FAQ’s

We are innovative, professional, ambitious
We act with respect for our partners and investors
We bring forth new investment opportunities in the Romanian market

About the company

We are an innovative company, created by Romanian entrepreneurs, which aims to become the go-to investment vehicle for investors interested in the real estate market. The company opens access to real estate investments reserved so far for large investors, providing effective protection against inflation and exchange rate increases. The investment risk is reduced due to the diversification of projects in several geographical areas and market segments.

Meta Estate Trust’s business model involves investing in the real estate market, with a short cycle of capital turnover, focusing on the large residential segment. It is a resilient model, with results above the average of direct investment in the real estate market regardless of the market context. Our investment policy focuses on the following business lines:

  • Early stage: Purchase of homes in residential projects in the early stages of construction, with exit before or upon completion;
  • Partnerships with developers: Partnerships for co-development. Investment in projects in early stages, with a building permit, where the need for development capital is high;
  • Parceling – urbanization: Partnerships with owners of lands within the built-up areas for the purpose of parceling or urbanization in order to increase the value of the land upon completion of works;
  • Turn around: Purchases of SH apartments at low prices and their accelerated assessment by finishing them at a high standard and subsequent sale at market price;
  • Rental: Purchase of rental homes, with an attractive yield plus potential revaluation at the exit moment;
  • Other opportunities: Flexible investment in any sector of the real estate market that provides a satisfactory turnover.

Meta Estate Trust opens access to real estate investments to any investor, providing effective protection against inflation. The investment risk is reduced due to various projects in which we invest, by size, developers, geographical areas and market segments.

The founding members are Eugen Voicu, Dragoş Bonea, Alex Bonea, Ionuţ Nicolescu, Adrian Stanciu and Cosmin Mizof, businessmen with complementary business expertise, the strongest in the real estate and capital market.

The company’s mission is to create and develop an innovative financial instrument that provides investors with the opportunity to achieve sustainable yields on the real estate market, regardless of the capital available.

The company’s vision is to democratize the real estate investment in Romania. By democratizing investment, we mean: accessibility, diversification, risk reduction, transparency, capital protection.

The Board of Directors consists of five members, reference names in the business environment: the three cofounders of the company – Eugen Voicu, Dragoş Bonea, Ionuţ Nicolescu, who were joined in March 2022 by Adrian Viman and Ciprian Lăduncă.

The management team consists of Oriol Casellas Deig – Chief Executive Officer, Raluca Drăgan – Chief Financial Officer, Oana Ignat – Chief Operating Officer and Cătălin Nae Șerban – Head of Legal. A professional team with complementary business expertise, including in the real estate and capital market.

The Advisory Board includes: Ilinca von Derenthall, Chairwoman, Independent Manager, Chairwoman of the Representatives Committee, Fondul Proprietatea; Marius Scuta, Head of Office Department & Tenant Representation within JLL; Viorel Nica NICA, Chairman within Capital Group; Andreea Păun, Managing Partner at Griffes; Marian Alecu, entrepreneur. The main role of the Advisory Board is to oversee transactions with affiliates. The Advisory Board also represents the interests of the shareholders in the dialogue with other governing bodies.

Over 20% of the share capital is currently held by the team members, thus achieving a direct alignment with the interests of the company and an additional incentive to ensure performance.

Meta Estate Trust appointed in March 2022 a Board of Directors with a strategic management role. It is chaired by Meta Management Team, committed to managing the business model for a 10-year period, while implementing a private equity remuneration structure.

Administration fee (from the value of assets under management):

  • 2022: 2,2%
  • 2023 – 2024: 2,0%
  • 2025: 1,5%

Basic fixed remuneration:

  • 2022: 75K €
  • 2023: 50K €
  • 2024 și după: 0 €

Depending on the value added generated by the project (Company value + Dividends distributed – Capital contributions) a Performance bonus structured in stages will be paid according to the IRR generated by the project.

  • 0% for IRR under 4%
  • 10% for IRR between 4% and 7%
  • 14% for IRR surplus between 7% and 14%
  • 17% for IRR surplus between 14% and 21%
  • 21% for IRR surplus >21%

The performance bonus is estimated to be payable in ordinary shares in the years 2025 (for 2024), 2028 (for 2027) and 2031 (for 2030) by applying the “high watermark” principle.

Why invest

  1. Capital protection – Over 20% of the share capital is currently held by team members, thus achieving a direct alignment with the company’s interests and an additional motivation to ensure performance. The main investment goal of the team is to protect the capital of its investors.

  2. Capital turnover – The investment risk is diminished by way of geographical diversification, access to different market segments and fast capital turnover.

  3. Accessibility – You can invest in complex real estate projects without a minimum investment threshold.

  4. Liquidity – Immediate access to invested capital and a net liquidity higher than direct real estate investment.

  5. High returns – You benefit from the expertise of a team with many years of experience in the real estate market, with access to attractive opportunities.

  6. Transparency – Visibility in the company’s activity through corporate governance and high standard communication.

Meta Estate Trust offers investors an agile business model that can be quickly reoriented, even in times of market correction. We facilitate the opportunity to have access to various investments in several projects, both by market segments and geographically. Raising capital from various investors allows us to channel it toward real estate market opportunities usually reserved for professional investors. And finally: quick access to liquidity once the company is listed on the Stock Exchange Market.

  • Raising capital from various investors and channeling it toward real estate market opportunities reserved for professional investors;
  • Diversified investment in several projects, by market segments, as well as geographically;
  • Quick access to liquidity, once the company is listed on the Stock Exchange Market;
  • Agile business model that can be quickly redirected, even in times of market correction.

If a developer needs a few months bridge, it will not turn to a bank because the approval process is long. It takes at least 2 to 3 months to access a loan. If a developer has a temporary need, we can be by his side. Moreover, Meta Estate Trust can undertake part of the minimum equity or part of the minimum degree of precaution required by financing banks.

Investment & investment policy

Since its establishment, Meta Estate Trust has invested in projects located in several cities in Romania. Over the next three years (2025), the company aims to raise its total assets to EUR 100 million. The investments made by Meta Estate Trust are distributed in the residential segments of Mid-Market and Upper-Market, in several cities in the country.

The whole team an important experience in the Romanian market, and we know almost all the “players” in the market. We do business with those who are already in the market and whom we know to have done good things. Obviously, we do our due diligence on projects, property titles, building permits.

Even if we talk to an old developer in the market, something might go wrong. We have taken safety precautions for such situations. With each developer we manage certain exposure limits that we apply.

When we invest large amounts of money, we analyze what protective mechanisms at hand. Sometimes we requested real estate guarantees for almost double the amount we financed. There are also situations when we partner with mezzanine developers. We have clauses in the contracts concluded with them that allow us to take control of the company in certain situations and to complete the project. This may not bring us the desired return in the short-term, but it is a protection mechanism that enables us not to lose investor money.

The investment policy is based on three fundamental criteria: the capital protection by way of the offered guarantees, the balance between return and risk and the fast capital rotation.

Real estate investments represent safety assets in the present market context, and the business model applied by Meta Estate Trust ensures a mitigation of risks through diversification both geographically and by market segments, but especially through a fast capital turnover. So far, the company has approached the following business segments/business lines:

  • Purchases of units in residential projects in early stages, with exit before or upon their completion
  • Conclusion of co-development partnerships for projects with building permits, where the need for development capital is high. In the future we will expand to:
    • Purchase of assets for rent.
    • Partnerships with owners of lands in the built-up areas to parcel and urbanize in order to increase the value of the land upon completion of works.
    • Purchases of SH apartments at low prices and their accelerated assessment by finishing them to a high standard and subsequent sale at market price.
    • Flexible investment in any sector of the real estate market that offers satisfactory returns.

The real estate market

Real estate developers must face various challenges, such as limited available capital, rigid bank financing, reliance on sales rhythm, know-how limited to their own experience and extended project development time. Meta Estate Trust has solutions to all these challenges and supports partners with quick access to finance, easy bank financing of the project, extensive know-how and reputation for the developer which will result in increased end customer confidence and reduced sales pressure in the early stages of the project. Depending on the situation, we can also consider sizing projects to larger scale.

We support developers in general with a supplement over bank financing, in fact helping them to access bank financing easier by our investment in the project.

The local real estate market is still underdeveloped. Romania has one of the most insecure housing stocks in the EU with small, old, unmaintained, and overcrowded homes. These factors represent an extraordinary opportunity for the future of the real estate market.

  • Romania has the highest percentage of residential owners worldwide, 95% of the existing real estate properties are personal ownership. Approximately EUR 400 billion are invested in real estate, i.e. 75% of the Romanians’ wealth.
  • In terms of comfort, however, the homes are outdated, 50% are 50 years old, and 15% are built after 1990.
  • The inhabitable area/person is among the smallest in the European Union, over 60% of the homes are studios or 1 bedroom apartments.
  • Over the last 20 years, 1 million homes have been completed and at this rate of development, it will take almost 160 years to renew the entire housing stock.
  • Housing remains affordable in terms of income, the total wealth of Romanians being almost double compared to 2011, according to INS.
  • Savings are on a growing trend, the average net salary has tripled in the last 15 years. In Bucharest, according to INS, the average net salary is about 800 to 1,000 €/month.
  • Retail banking deposits reached a record high of over EUR 58 billion in 2022 (acc. to the NBR – National Bank of Romania). Romanian people live in lower quality homes compared to their purchasing power, so they can afford better homes.

Financial

Meta Estate Trust ended the financial year of 2021 after 9 months of operation with assets worth RON 71.5 million, with 17 projects invested and 3 fully exited investments.

Cumulative gross operating profit from the establishment until 31.03.2022 (before indirect costs): RON 1.68 million.

Annualized gross return on exited investments >20%.

The net loss for 2021 was RON 2.39 million, mainly caused by the fact that the results of the investment made in 2021 will be seen primarily in 2022 and 2023, when marking the exits.

The budget approved by the General Meeting of the Shareholders (GMS) in March 2022 is conservative and indicates a shift in profit after the first full year of operation.
The asset target for 2022 is EUR 25.7 million. In the first quarter, the total assets registered are RON 78.9 million. Until 31.03.2022, we have a cumulative gross operating profit since the establishment of the company of RON 1.68 million (before indirect expenses). For 2022, we expect an operating profit of RON 4.9 million and a gross profit of RON 7.2 million.

We are confident in the potential of the company, and we see extraordinary investment opportunities in the real estate market. We aim to have assets worth EUR 100 million at the end of 2025 and to be listed on BVB Main Market.

Corporate governance

The company meets the corporate governance standards for a listed company. We apply strict corporate governance rules in order to provide transparency and build the trust of our partners, but also to guide the organization towards the desired standards. We rely on a professional team, with complementary business expertise, including in the real estate and capital market. The company relies on the support of a five-member Advisory Board and three committees with a pre-defined role – audit, risk analysis and investment analysis. We aim to report quarterly on financial and operational results.

The capital market

A transfer request is made from the Central Depository as soon as the shares are available at the Central Depositary. These will be transferred to the account of the broker with which you hold shares through its platform.

The company will make every effort so that the capital market reflects as accurately as possible the value of the business. Thus, we believe that the returns obtained by investors will be attractive and, in the long run, the target is of ‘double digit’ annual returns.

We are a growing company. Therefore, we will propose our shareholders to reinvest the profit, at least in the first years, by offering free shares.