Rental - Karlin - LOT 14

Operating serviced apartments in Prague

Interest
12 % p.a.
Min. investment
1 EUR
Status
Active
Investment goal 200 000 EUR
Invested 148 254 EUR
74% Filled 51 746 EUR left
Invest now
Rental - Karlin - LOT 14 Rental - Karlin - LOT 14

Investment information

  • Min term. 24 months
  • Max term. 60 months
  • Collateral value 6,240,000 EUR
  • LTV 73%
  • Location Prague 8, Karlin
  • Developer Vihorev Group
  • Interest payout Rental
  • Loan purpose Equity refinance loan
  • Securing Corporate guarantee
  • Project phase Operating
  • Visual materials Overview

Project capital structure

Own equity 1 700 000 EUR
Fintown loan 2 000 000 EUR
45.9%
54.1%

Honest Karlin

Executive summary

  • Loan is issued to refinance the invested equity of the borrower in the form of a Mezzanine.

  • This loan is subordinate to the Senior Loan.

  • Project has been in the operating phase since April 2024.

  • Interest on the loan will be paid from the net cash flow generated by apartment rentals, as detailed in the

  • Monthly Cashflow calculation below.

  • Loan is guaranteed by Vihorev Management Company s.r.o., acting as the property management company, and Vihorev Investments, SE, as the Borrower.

Project summary

  • This investment opportunity presents an operating property poised to generate short, mid, and long-term rental income, offering an expected return of 12.00% per annum.

  • This is in addition to an existing bank loan, aimed at refinancing the borrower's equity.

  • Honest Karlin is located in one of Prague's most frequented areas, the Karlin District.

  • Currently, apartments are rented through rental booking platforms and among the customer base of Honest Apartments, a brand of the Vihorev Group.

Product Rental

  • One of the main features is that you will earn monthly interest, which can be reinvested or withdrawn to your bank account.

  • This product requires adherence to a minimum term before you can withdraw your principal.

  • Interest accrual starts from the day of investment, and the first interest payout is made on the 1st of the subsequent month.

  • After the minimum term, you can choose to withdraw your principal or leave it invested to continue generating income.

  • The maximum term for rental products is 60 months.

Project description

We are excited to present a unique real estate investment opportunity through a mezzanine loan participation, catering to both short and long-term rentals.

In this venture, Fintown s.r.o. serves as the lender, providing a loan to Vihorev Investments SE, a subsidiary of the well-established VIHOREV GROUP.

The focal point of this project is Honest Karlin, a comprehensive building renovation initiative led by the Vihorev Group, under the direction of its founder, Maxim Vihorev. Initiated in 2021 and completed in April 2024, the project includes 31 units. Rental operations will be managed by the SPV, Vihorev Management Company s.r.o. With a rich background in real estate, Mr. Vihorev brings his extensive experience as a developer and investor, boasting a portfolio that includes five successfully completed projects covering 7,096 square meters and three ongoing projects spanning 9,225 square meters.


Investment product description

Product

Rental

Loan purpose

Loan for equity refinancing

Location of the funded project

Prague 8, Karlin

Borrower

Vihorev Investments SE

Collateral Value

6.240.000 EUR

Senior loan

2.540.000 EUR

Fintown loan

2,000,000 EUR

Borrower equity

1,700,000 EUR

Minimum investment

1 EUR

Interest payout

Monthly payout

Start of interest accrual

From the investment date

Max. term of the project

60 months

Project information

Honest Karlin project offers a residential rental opportunity currently operating in the Karlin neighborhood of Prague 8.


This four-story apartment building has completed a comprehensive renovation and expansion, elevating it to modern living standards.


As of now, the project is open for tenants and poised to provide a contemporary living experience in a sought-after area.

Project basic information

Total number of apartments

31

Total amount of leased area, m2

1050

Average area of a leased unit, m2

33

Overview of Commercial Analysis

The rental operator is SPV Vihorev Management Company s.r.o.
Operational activities began in April 2024.
Rentals are offered through the Booking.com, Airbnb, Expedia, and Flatio platforms.

Estimated Performace

Estimated Occupancy 90%

ADR 100 EUR

RevPar 90 EUR

Financial analysis

Project metrics, EUR

For all 31 units

Collateral Value

6,240,000

Senior Loan

2,540,000

Fintown loan

2,000,000

Own equity

1,700,000

Operating Cash Flow

Estimated annual rental revenue

1,018,350

Estimated annual operating costs

(407,340)

Senior loan annual interest expense

(152,400)

Net Cash Flow (Before Fintown loan)

458,610

Fintown loan annual interest expense

(200,000)

Net cash flow (Total)

258,610

Costs for Fintown Investors

  • Commission-free for the use of the Fintown platform.

  • No hidden fees for exiting at any time after min. term. during the project.

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