1. Executive Summary

GreenCon (legal entity SC Green Con Group SRL) is a Romanian manufacturer of light-gauge, galvanized and zinc-coated steel building structures, based in Tămași, commune of Corbeanca, in the northern industrial ring of Bucharest. The company is raising €250,000 over a 12-month term to complete the acquisition of its own production site — a 3,463 m² plot and a 683 m² steel-structure hall — onto the company balance sheet, to discharge an existing €60,000 mortgage on that property, and to fund working capital. The loan is secured by a first-rank mortgage on the acquired property, independently appraised by an ANEVAR-authorised valuer at €961,000, giving a loan-to-value of approximately 26% (collateral coverage of roughly 384%, against a platform minimum of 150%). Investors receive a base interest rate of 14% p.a., plus a volume-based cashback of up to 2% p.a. (up to 16% effective), with interest paid monthly and principal repaid in full at maturity. Repayment is sourced from bank refinancing against the newly owned asset or from the company's operating cash flow.

2. Location Analysis

The property is located in Tămași, commune of Corbeanca, Ilfov county, within the metropolitan ring immediately north of Bucharest. Access is via the local road network with direct links to DN1, DN1A and the A0 ring road (centura), providing fast connectivity to the capital and to the national freight corridors.

Corbeanca sits inside the Bucharest–Ilfov industrial and logistics hub, which is by far the country's largest: at mid-2024 Romania had more than 7.1 million m² of operational industrial and logistics space, with Bucharest–Ilfov accounting for roughly 49% of the national stock, and the market was on track to approach 8 million m² by the end of 2025 at an annual development pace of about 500,000 m².

The plot is intravilan (within the buildable perimeter), fenced, with a wide 128 m frontage to the access road. It is connected to electricity, served by an own drilled well for water and a septic system for sewage; mains gas and public water/sewer are not present in the immediate area. The surroundings are predominantly agricultural and residential, with low pollution and easy site access.

At a macro level, Romania recorded one of its strongest economic periods on record, with GDP reaching approximately €355 billion and GDP per capita at purchasing-power parity rising to about 78% of the EU average (up from roughly 35% in the early 2000s), supporting continued demand for modern production and logistics space in the capital region.

3. Developer Profile

SC Green Con Group SRL (CUI 50009766, J23/3199/2024) was founded in April 2024 and is wholly owned and managed by its sole shareholder and administrator, Feraru Emanuel-Marius. The company operates under the GreenCon brand (social presence on Instagram and TikTok, @greencongroup).

Its activity (CAEN 2511 — manufacture of metal structures) is the design and fabrication of light-gauge steel framing (LSF) — galvanized and zinc-coated steel skeletons for residential and light-commercial buildings.

Despite its short history, the company has built a clear growth trajectory:

• Revenue: approximately 404,000 lei in 2024, rising to approximately 1,260,000 lei in 2025 — roughly a 3× increase year-on-year.
• Profitability: a net profit of about 165,000 lei in 2024 at a net margin near 41%, well above the sector median.
• Production base: approximately €461,000 of production machinery on the balance sheet, held free of any movable-asset charges (no RNPM/AEGRM registrations).
• Tax standing: active, VAT-registered, with no outstanding obligations to the tax authority (ANAF).

The founder is also active through a small group of affiliated entities, including Nod Real Logistic SRL (100%) and Adverb Craft SRL (95%, based in Tămași), reflecting broader entrepreneurial activity in the same region.

4. Project Overview

The transaction consolidates the company's existing production site — currently owned by an individual related to the founder — onto the company's own balance sheet, and funds working capital.

The asset:

• Type: industrial production site (land plus single-storey steel-structure hall).
• Address: Str. Odăile nr. 152, Tămași, com. Corbeanca, Ilfov (Land Book / CF no. 112802 Corbeanca, cadastral no. 112802).
• Land: 3,463 m², intravilan, fenced, with a 128 m frontage (683 m² classified as building land / curți-construcții and 2,780 m² as arable within the same plot).
• Building: a 682.5 m² (built) / 683 m² (gross) steel-structure hall, approximately 648 m² of usable area, single level, completed in 2025 and in new condition.
• Utilities: electricity connected; water from an own drilled well; sewage via septic system.
• Title status: both the land and the hall are registered (intabulated) to the current owner; the land has been reclassified from extravilan to intravilan. The property currently carries a €60,000 first-rank mortgage that will be discharged at closing from loan proceeds.

Use of proceeds (€250,000):

• €120,000 — acquisition consideration paid to the seller to transfer the property to the company;
• €60,000 — discharge of the existing mortgage on the property, clearing the way for a first-rank charge in favour of investors;
• €70,000 — working capital for the manufacturing operation.

Forward context: the plot is substantially larger than the current building footprint, giving the company room to develop two additional production halls on the same site in a later phase. That expansion is intended to be self-funded by the founder and is not part of this campaign or its repayment; this facility finances only the acquisition and working capital described above.

5. Market Analysis

Industrial real-estate market. The Bucharest–Ilfov region is the dominant industrial and logistics market in Romania, holding close to half of the national stock (≈49%). National operational stock stood above 7.1 million m² at mid-2024 and was approaching 8 million m² by the end of 2025, expanding at roughly 500,000 m² per year, driven by logistics, retail and infrastructure investment. Demand is reinforced by companies relocating from older facilities into modern, compliant production and storage space.

Local rental and sale evidence. In the Corbeanca / Buftea / Balotești corridor, asking rents for production-and-storage space range from €4.25 to €7.74 /m²/month, with a median around €5.90 /m²/month. Asking prices for comparable production/storage properties in the area fall in the €1.5–1.75 million range for buildings of 1,000–2,400 m².

Valuation basis for the collateral. The independent ANEVAR appraisal (December 2025) concluded a market value of €961,000, supported by two approaches:

• Income approach (capitalisation): €961,000, based on an estimated triple-net rent of €5,000/month, 95% occupancy and a 7.2% capitalisation rate.
• Cost approach: €994,000, with land valued at €532,000 (≈€154/m²) and the building at a net replacement cost of €461,982 (≈€677/m²).

The appraised value sits comfortably within the range of local sale evidence, and the property's highest-and-best-use was confirmed as industrial / production. As this is an acquisition-and-working-capital facility rather than a build-to-sell development, the appraisal functions as the collateral basis for the loan rather than a projected sale price.

6. Financial Analysis

This is acquisition and working-capital financing for an operating manufacturing business, not a build-to-sell development; the analysis therefore focuses on transaction economics and repayment capacity rather than on a development margin.

Repayment capacity. The company's revenue grew roughly threefold to about €248,000 in 2025, with a positive operating result, a production-equipment base of approximately €461,000, and no tax arrears. On completion, the company also owns a €961,000 asset against €250,000 of debt, creating an equity cushion of roughly €711,000 that supports refinancing.

Repayment source. Principal is repaid at maturity from either bank refinancing secured against the now company-owned property, or from the company's operating cash flow.

7. Funding and Investment Opportunity

Capital stack and funding plan. This is a single-tranche facility. On completion, the company holds the full €961,000 production site against €250,000 of senior secured debt. Repayment channels, in order of preference, are: (1) bank refinancing against the now company-owned, unencumbered (post-discharge) asset; (2) operating cash flow from the manufacturing business; and (3) developer equity or asset sale as a backstop. Any future expansion (two additional halls) is intended to be self-funded by the founder and sits outside this facility.

Platform. The offering is facilitated by stock.estate, a European crowdfunding service provider licensed by the Autoritatea de Supraveghere Financiară (ASF Romania), licence no. PJR28FSFPR/400002, under Regulation (EU) 2020/1503 (ECSPR).

8. Risks and Mitigations

• Collateral / market risk. The market value of industrial property can move with economic conditions. Mitigation: the loan is secured at approximately 26% LTV (≈384% coverage) on an independent ANEVAR appraisal, providing a large buffer against value movements; the asset is liquid industrial property in Bucharest's prime logistics hub.

• Repayment (refinancing) risk. Principal is repaid in a single bullet at month 12, exposing the loan to refinancing conditions. Mitigation: after completion the company owns a €961,000 asset against €250,000 of debt — a substantial equity base that supports bank refinancing — and the operating business has grown revenue threefold with no tax arrears.

• Acquisition and title risk. The company is acquiring the property and certain land-registry steps are still being finalised. Mitigation: disbursement occurs only at the notarial closing, when ownership transfers to the company and the first-rank mortgage is registered; the existing €60,000 charge is discharged in the same session.

• Related-party transaction risk. The property is acquired from a party related to the founder. Mitigation: the value is anchored by an independent ANEVAR appraisal, and the disbursement-at-closing and first-rank mortgage mechanics protect investors irrespective of the parties' relationship.

• Construction / expansion risk. Mitigation: none applicable to this facility — the proceeds fund only acquisition and working capital; the planned future halls are self-funded and outside this loan.

• Regulatory / permitting risk. Changes in zoning, tax or sector regulation could affect operations. Mitigation: the property is already intabulated and reclassified as intravilan, and the company is fully registered and tax-compliant.

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This description is provided for information purposes within a stock.estate crowdfunding campaign and does not constitute investment, legal or tax advice. Prospective investors should read the Key Investment Information Sheet (KIIS) and form their own assessment.