Confidential · For Qualified Investors & Lenders Only
A 5-star boutique hotel, 30 metres from the Black Sea.
Vila Ilinca is a 776 sqm, six-level (D+P+3E+M) property in Agigea, Constanța, presented here as a fully modernised all-seasons 5-star boutique hotel — twelve sea-facing keys, an all-day F&B destination in the rear garden and a rooftop lounge, delivered under a hard €250,000 modernisation budget.
01 · Executive Summary
Investment at a Glance
The transaction is structured as the acquisition of 100% of the shares of Standard Grup 4 Term SRL, a Romanian SPV that owns Vila Ilinca outright, together with active electricity distribution and trading licences. A hard CAPEX ceiling of €250,000 governs the full transformation into the all-seasons 5-star boutique hotel presented throughout this data room.
Super Premium Apartments
Conversion into luxury residential units for individual sale. An estimated 600 sqm of net sellable area at a conservative €2,200 per sqm yields net sales revenue of €1,254,000 against total invested capital of €826,000.
5-Star Boutique Hotel
Transformation into a 5-star boutique villa within the existing 10-room configuration. At a conservative ADR of €220 and 40% annual occupancy, the property generates €321,200 in revenue and €176,660 EBITDA per year.
Special Purpose Vehicle
Standard Grup 4 Term SRL
CUI 38788314 · J40/1396/2018
Incorporated 01.02.2018, Bucharest
Energy Licences Included
CAEN 3514 — Electricity distribution
Active access to BRM, OPCOM and Transelectrica-DAMAS trading platforms
Refinancing Component
Existing facilities of ≈€256,000 with Libra Internet Bank to be refinanced or renegotiated as part of the transaction structure
02 · The Hotel
Vila Ilinca, Reimagined
Architectural visualisations of the modernised Vila Ilinca — an intimate all-seasons 5-star boutique hotel developed on the property's exact D+P+3E+M structure. Warm lime-wash render, travertine, oak and brass define a coastal-Mediterranean identity across every guest-facing space, open twelve months a year.
IThe Building — Day & Night
The existing facade geometry — curved balcony parapets, wrought-iron railings and the terracotta roofline — restored and refined in warm lime-wash render with stone landscaping and architectural uplighting.
IIArrival & Interiors
A dedicated boutique reception with concierge desk, luggage alcove and welcome lounge anchors the ground floor; twelve sea-facing keys, a wellness level and refined circulation complete the guest circuit.
IIIGarden Annex — All-Day F&B Destination
Approximately 200 sqm of land at the rear of the building (CF 108278 + CF 108722) is developed as a lightweight steel-and-timber F&B pavilion — breakfast terrace in the morning, coffee shop and lunch service through the day, destination bar in the evening. Sheltered behind the hotel and invisible from the street, the rear garden becomes a secluded destination venue open to hotel guests and walk-in trade alike.
IVRooftop — Sunset Lounge
An intimate lounge terrace integrated into the mansard roofline — ipe decking, glass wind-breaks and a fire table, with a panoramic view over the Black Sea thirty metres away.
Architectural visualisations are concept renders prepared for investment evaluation, developed from the property's actual geometry and cadastral configuration. Final specifications are subject to detailed design, permitting and the €250,000 CAPEX envelope defined in the Feasibility Study.
03 · Modernization Plan
Level by Level
The programme reconfigures all six levels of the D+P+3E+M structure (776 sqm) plus the ~200 sqm garden annex into a coherent 5-star circuit. The main entrance and reception face the street at the front of the building — guest arrival directly from Str. Emil Racoviță, the most visible frontage with the strongest curb appeal — while the garden F&B annex occupies the sheltered courtyard at the rear. A separate service and delivery access on the secondary side keeps back-of-house flows invisible to guests.
Mansard · Rooftop Lounge
Sunset lounge terrace within the roofline — ipe decking, glass wind-breaks, fire table — plus one attic suite. Solar PV array on the south-facing roof slope.
Floor 3 · Penthouse Suites
Two expansive VIP penthouse suites with panoramic sea views, upgraded finishes and private balcony terraces.
Floors 1–2 · Guest Suites
Eight sea-facing suites (four per floor) with king beds, en-suite rainfall bathrooms and the restored curved balconies with wrought-iron railings.
Ground Floor · Arrival & F&B
Boutique reception at the front, facing Str. Emil Racoviță, with concierge desk, luggage alcove and welcome lounge; indoor restaurant opening through bifold doors into the rear Garden Annex; one accessible guest room.
Basement · Wellness & Back-of-House
Spa corner with massage room, sauna and relaxation area; kitchen prep with dumbwaiter, laundry, staff facilities and the main technical room.
Rear Garden Annex · ~200 sqm F&B
Lightweight steel-and-laminated-timber pavilion with retractable linen canopy in the rear courtyard, on plots CF 108278 + CF 108722 behind the main building — a secluded all-day revenue centre from breakfast to evening bar, serving guests and walk-in trade.
04 · Cost Breakdown
The €250,000 Budget
A detailed capital expenditure budget built on 2026 Romanian construction market rates (turnkey renovation benchmarks of €480–680 per sqm for premium fit-out; Vila Ilinca's blended €322 per sqm reflects the sound existing structure requiring no heavy structural rebuild).
| Package | Scope | Budget | Share |
|---|---|---|---|
| Facade & envelope | ETICS mineral-wool insulation (10 cm), breathable lime-wash render, roof restoration, triple-glazed aluminium windows | €42,000 | 16.8% |
| Interior finishes | Engineered oak herringbone, porcelain tile, lime plaster, oak doors & joinery across 776 sqm | €45,000 | 18.0% |
| Bathrooms & plumbing | 12 en-suites + public WCs — walk-in rainfall showers, Grohe / Hansgrohe fixtures, new risers | €28,000 | 11.2% |
| HVAC & energy | VRF heat-recovery climate system (all-seasons heating + cooling), 10 kWp solar PV, air-to-water heat pumps for DHW | €38,000 | 15.2% |
| Exterior panoramic elevator | 5-stop hydraulic lift in a steel-and-glass exterior shaft, EN 81-20/70 compliant | €36,000 | 14.4% |
| Garden Annex (F&B) | Lightweight steel + laminated-timber pavilion, retractable canopy, bar build-out, stone paving, landscaping, lighting | €35,000 | 14.0% |
| Electrical & smart building | Full rewiring, RFID keycard access, room energy management, LED scheme | €8,000 | 3.2% |
| Fire safety & compliance | Addressable detection & alarm, emergency lighting, evacuation signage, extinguishing points | €4,000 | 1.6% |
| Contingency | Reserve for unforeseen structural / MEP conditions (≈5.6%) | €14,000 | 5.6% |
| Total CAPEX | Turnkey modernisation, all six levels + annex | €250,000 | 100% |
FF&E (furniture, fixtures & equipment) is financed through a separate operating-lease facility to preserve CAPEX for construction works. Parking is delivered through a partnership lease (operating cost, not CAPEX) — see Technical Solutions below.
05 · Technical Solutions
Engineered for All-Seasons Operation
Vila Ilinca operates twelve months a year — a decisive differentiator on a coast where most competitors close from October to May. Every system below is specified for year-round comfort and low operating cost: winter wellness stays, corporate retreats and events carry the shoulder and off seasons.
Climate — VRF Heat Recovery
A VRF (variable refrigerant flow) heat-recovery system provides simultaneous heating and cooling zone by zone, with ERV fresh-air units. Combined with 10 cm mineral-wool ETICS and triple glazing, winter operating costs stay controlled.
Energy — Solar + Heat Pumps
A 10 kWp rooftop photovoltaic array (≈12,500 kWh/year on the Constanța coast) offsets baseload consumption; air-to-water heat pumps produce domestic hot water. Prosumer grid connection monetises summer surplus.
Vertical Transport — Panoramic Lift
A 5-stop hydraulic panoramic elevator in an exterior steel-and-glass shaft preserves interior floor area, provides full accessibility (EN 81-20/70) and turns circulation into a scenic moment.
Parking — Partnership Model
No on-site parking structure: dedicated guest spaces are leased under contract from a nearby parking operator — standard practice for boutique hotels in dense coastal locations. A full-time in-house valet (hotel payroll) greets guests on arrival, parks and retrieves vehicles: the first and last touchpoint of the stay.
Smart Building & Safety
RFID keycard access linked to room energy management (HVAC setback in unoccupied rooms), addressable fire detection and alarm, emergency lighting and monitored CCTV at entrances.
Water & Sustainability
Rainwater harvesting for garden irrigation, low-flow Grohe fixtures, LED lighting throughout and waste separation — supporting an eco-certification pathway valued by corporate clients.
| Element | Specification |
|---|---|
| Facade | 10 cm mineral-wool ETICS + breathable lime-wash render, warm ivory; natural stone base course |
| Windows | Triple-glazed aluminium, dark bronze profiles, Uw ≤ 0.9 W/m²K, acoustic laminate to street side |
| Floors | Engineered oak herringbone (guest areas); anti-slip porcelain (wet & outdoor areas); ipe decking (rooftop) |
| Bathrooms | Grohe / Hansgrohe brassware, walk-in rainfall showers, travertine-look porcelain, oak vanities |
| Garden Annex structure | Galvanised steel frame + laminated timber beams, retractable linen canopy, tempered-glass wind screens |
| Lighting | Warm-white LED scheme (2700 K), architectural uplighting, Edison string lights in the annex |
06 · Timeline
Twelve Months to Opening
A phased twelve-month execution schedule takes the property from permitting to soft opening, timed to launch ahead of the summer season.
Phase 1 · Months 1–3
Design & Permits. Detailed architectural and MEP design, structural expertise, Garden Annex authorisation, building permit and utility agreements.
Phase 2 · Months 3–8
Envelope, Structure & MEP. Facade insulation and render, window replacement, elevator shaft erection, interior reconfiguration, full electrical / plumbing / VRF rough-in.
Phase 3 · Months 8–11
Finishes & Annex. Flooring, bathrooms, joinery, lift cabin commissioning, solar PV installation, Garden Annex pavilion erection and landscaping.
Phase 4 · Month 12
Commissioning & Soft Opening. FF&E installation, systems testing, staff recruitment and training (including the in-house valet), 5-star classification audit, soft opening.
07 · Virtual Tour
Walk the Property
A video walkthrough of the property and its seafront surroundings, documenting the location and the structure on which the modernisation programme is built. In-person viewings can be arranged via the deal team.
08 · Financial Analysis
The Numbers
Financial modelling from the full Feasibility Study & Business Plan, prepared on conservative assumptions with an exchange rate of 1 EUR = 4.98 RON and a 10% discount rate for NPV calculations.
Return Comparison by ScenarioScenario A (apartments) delivers 51.8% ROI, Scenario B (hotel) a 37.4% IRR and Scenario C (hybrid) a 43.1% IRR — all on total invested capital of €826,000.
Hotel Scenario SensitivityEven at the pessimistic corner (€180 ADR, 30% occupancy) the project retains a 21% IRR; the optimistic corner (€260 ADR, 50% occupancy) reaches 53%.
Total Capital Requirement — €826,000Acquisition price €320,000 (38.7%), CAPEX €250,000 (30.2%) and debt refinancing €256,000 (31.0%) comprise the full capital structure of the transaction.
| Metric | Scenario A — Apartments | Scenario B — Hotel | Scenario C — Hybrid |
|---|---|---|---|
| Strategic objective | Rapid exit & capital recovery | Long-term hold, recurring income | Balanced approach |
| Total investment | €826,000 | €826,000 | €826,000 |
| Net sales revenue | €1,254,000 | — | €475,000 (penthouses) |
| Annual EBITDA | — | €176,660 | €87,600 (hotel) |
| ROI / IRR | 51.8% ROI | 37.4% IRR | 43.1% IRR |
| NPV @ 10% | — | €1,214,203 | €660,355 |
| Payback period | 12 months | 4.7 years | Partial exit |
| Risk profile | Lower operational, market risk on sales | Higher operational, tourism market risk | Moderate |
09 · Data Room Documents
Due Diligence Library
The complete documentation package supporting this opportunity. All documents are provided on a strictly confidential basis for evaluation purposes only.
Documents are being finalised for upload. Should a file be temporarily unavailable, please request it directly at office@mayleven.com and it will be provided within one business day.
10 · Location
Agigea, Constanța — First Line to the Sea
Str. Emil Racoviță 110B, Agigea, Constanța county. The property sits 30 metres from the Black Sea shoreline, on the coastal corridor connecting Constanța with Eforie Nord — one of Romania's most established seaside resort areas.
Connectivity
Direct access to the A4 ring motorway and DN39 coastal road; Mihail Kogălniceanu International Airport is approximately 40 minutes by car.
Micro-location
Quiet residential streetfront within walking distance of the beach, south of Constanța's port infrastructure and adjacent to the Agigea marine reserve area.
Market Context
Premium seafront apartments in the Constanța–Eforie corridor trade at €1,800–2,200 per sqm, with Mamaia and central seafront stock reaching €2,400–3,500 per sqm.
11 · Contact
Investment Inquiries
For access to the full documentation package, site visits, or to discuss transaction structure and financing, please contact the deal team.
office@mayleven.comStrictly Private & Confidential