Public research · illustrative brief
Residential development capital: who to screen
A developer needs to distinguish potential construction lenders from providers of supplementary capital. We compare five public profiles against the funding purpose and stage of one illustrative project.
Komerční banka and Raiffeisenbank merit screening for construction debt; Upvest for supplementary capital. Crowdberry evidences a comparable Slovak debt case, not fit with our Prague project. REICO LONG LEASE falls outside this brief.
The brief and screening boundaries
- Project and stage
- Illustrative 40-unit Prague scheme for individual sale. Land held by an SPV, effective permit, pre-construction; 24-month delivery.
- Working budget
- Total funding requirement of CZK 240m: assumed CZK 160m construction loan, CZK 40m sponsor funds and CZK 40m supplementary capital.
- What the budget does not prove
- This is an illustrative allocation, not approved financing. Sales receipts, pre-sales, tax effects, contingency and repayment require a financial model.
- Screening criteria
- Capital purpose, residential construction versus long-term rental, geography and unresolved conditions. Rates, capital availability and acceptable leverage are not estimated.
The sample compares bank products, a platform offering several capital types, a historical supplementary-debt case and a fund with a different strategy. These are not interchangeable offers or a price ranking. The banks are alternatives for the same role; their amounts are not added together.
Profile comparison
| Profile | Published information | Assessment for the brief | What remains to verify |
|---|---|---|---|
| Komerční bankaScreen for construction debt | Describes lending for residential property for rental or sale, with a dedicated team for projects from CZK 100m. Source 1: Komerční banka | The purpose and illustrative project scale justify further lending enquiries. The team threshold is not an approved loan limit. | What sponsor equity and pre-sales are required? Would another lender be permitted, and on what conditions? |
| RaiffeisenbankScreen as an alternative construction lender | Project finance includes residential construction in Czechia and describes staged loan drawdown during works. Source 2: Raiffeisenbank | A relevant alternative for the main loan. The product description does not establish CZK 160m availability or the required term. | What security, cost monitoring, drawdown conditions and consent for supplementary capital would be required? |
| UpvestScreen supplementary capital structures | Publishes mezzanine, senior debt and equity participation for property projects. States it is wholly owned by Komerční banka. Source 3: Upvest Source 4: Upvest | Screen for the illustrative CZK 40m. Debt and equity carry different rights; KB and Upvest are not two independent groups. | Do project size and stage fit? Which entity would borrow, who would supply capital, and what would the senior bank permit? |
| CrowdberryVerify geography and current mandate | In February 2025, described supplementary debt alongside a bank for Bottova Residence in Banská Bystrica. Source 5: Crowdberry | The case evidences a structure. A late-stage Slovak development does not establish fit for a Prague pre-construction scheme. | Does the same product accept new Czech projects at this stage and size? On what terms and in which currency? |
| REICO LONG LEASEExclude for this brief | Its strategy focuses on commercial property with long leases, specifying lease terms of at least ten years. Source 6: REICO | Apartments sold individually on completion do not provide the required long-term rental income. This fund does not fit. | Reassess only after a material change to the project. This finding concerns this fund, not every REICO strategy. |
How an engagement would continue
Reconcile the financial model
Prepare monthly drawdown and repayment, price and delay sensitivities, contingency and evidence of sponsor funds. The CZK 160m / 40m / 40m allocation is only a working assumption.
Compare the same capital role
Compare banks with banks. For supplementary funding, distinguish subordinated debt from equity, control rights and profit participation.
Agree outreach and supporting documents
Approve a concise project profile and recipients. Agree information-sharing arrangements before sending sensitive documents. Compare offers only once actual terms exist.
Scope of this example
No provider has assessed this project or committed financing. Loan amounts, pricing, security, sponsor contribution, senior-lender consent and capital availability are unconfirmed. A historical project is not a current offer; the named entities are not ORIGINATION partners.
This is a purposive sample, not comprehensive market coverage. It uses the listed primary public sources; their claims have not been independently verified. The illustrative brief is not a client mandate. Nobody was contacted for this example. Sources must be refreshed before use in an engagement.
Prepared by ORIGINATION. Sources checked: .
Sources and review date
- Komerční banka · Financování nemovitostíPublication date not stated · Sources checked: 2026-09-14
- Raiffeisenbank · Projektové financováníPublication date not stated · Sources checked: 2026-09-14
- Upvest · Portfolio investičních produktůPublication date not stated · Sources checked: 2026-09-14
- Upvest · Schémata financování developera / mezaninový úvěrPublication date not stated · Sources checked: 2026-09-14
- Crowdberry · Loans to real estate developers / Bottova ResidencePublished 2025-02-11 · Sources checked: 2026-09-14
- REICO · LONG LEASE / Investiční kritériaPublication date not stated · Sources checked: 2026-09-14
Research for your own brief
A free initial consultation will clarify your brief. We then agree the deliverable, verification scope, timing and fixed fee for paid research. Any outreach is agreed separately.