The main intention of the partner is to build a residential complex with commercial premises in Babice near Řehenice. The partner will use the selected funds to refinance the existing loan for the land and for preparatory works leading to obtaining the necessary permits to start the construction. The partner has already invested CZK 2.2 million in the project from its own resources.
- Address of the property: Babice, obec Řehenice, LV 896
- Locality: Řehenice, Benešov district
- Partner: Forest Views II, s.r.o.
- Holding: Getberg Real Estate Group
- Financing: from the sale of the property securing the loan or by refinancing from a bank loan
- LTV: 80%
- Collateral: the loan of CZK 11,500,000 is secured by real estate worth CZK 14,300,000 (as estimated by Investown's risk team)
- Other security: pledge of the business share of Forest Views II s.r.o., personal guarantee
- Size: 5315 m2 plot
- Link to the holding's website: www.getberg.cz
- Link to Forest Views projects website https://getberg.cz/cs/projects/forest-views/
Forest Views II purchased the site with the intention of building a commercial and residential development adjacent to the residential development of Forest Views I (117 residential units), Forest Views III and Forest Views IV.
After successful financing, the Forest Views II project envisages the construction of 47 residential units with a sales floor area of 2,565 m2, 55 underground parking spaces and 554 m2 of commercial space, which will include a café and a grocery store.
The Forest Views II project is currently in negotiations with the municipality to amend the zoning plan to allow the project to include a commercial component (i.e. commercial space). The municipality is in favour of such a solution.
This loan is secured by a shareholding in Forest Views II and a personal guarantee.
Once the project has been successfully financed, the partner has 30 months to complete the planned steps in order to repay the project principal, which will be paid from the sale of the property securing the loan or by refinancing from a bank loan.
Why did we choose this project?
The Investown team recommends. "Because we at Investown care about the safety of our investors' finances, we select only the best projects and subject them to a detailed risk analysis. What attracted us to this project was the holding company's focus on green solutions and the use of state-of-the-art technology."
Prior to the posting on the platform, the interest rate was increased from 8.5% to 9.5% in favour of investors. We had to adjust this information in the KIID as well and hence we are presenting the old and updated KIID.