The real estate crowdfunding equity portal Concrete Investing has reached a new record, raising $2.7 million (€2.5 million) in 24 hours for the construction of the Bluestone real estate project in Milan, Italy.
In detail, the campaign has received over 150 investments. However, as the maximum funding for this operation was set at $2.2 million (€2 million), Concrete Investing was only able to accept a portion of all investments, repaying the excess investments.
The Born2Invest mobile app is the leading financial news and analysis platform that covers the evolving global revolutionary finance industry including investment crowdfunding, peer-to-peer / marketplace loans from different Fintech types, Africa, and more.
BlueStone as a sponsor of the transaction
The sponsor of the transaction was the BlueStone Group, an important real estate development company, which has been operating in Milan for over 20 years. It deals both with the redevelopment of prestigious buildings and new realizations, following the entire process internally: from design to urban planning to sell. BlueStone has successfully completed several real estate initiatives including the prestigious Residenze Santo Stefano, Via Casale 5 and via Carmagnola 15 and has these its portfolio, in addition to Park Towers Milan, 5 other operations under development, including Urban Garden, Crivelli 30 and Hidden Garden.
“The fast achievement of the collection target, on the one hand, represents and confirms the quality of the proposal, on the other hand, it has unfortunately meant that several investors have not been able to participate in the Offer, but we hope they will be able to evaluate the next initiatives on which we are already working, and which will be presented on the portal in the next period. We are also very honored to have been chosen again by subjects of the highest standing such as Bluestone, a specialist market operator and Asti Architetti, a firm that is contributing substantially to the most important redevelopment operations in Milan,” commented Lorenzo Pedotti, CEO of Concrete Investing.
A definitive return of 11.86%
In January this year, Concrete Investing made its first exit: investors in the Torre Milano real estate project (first campaign launched by Concrete Investing in December 2018), developed by OPM (Impresa Rusconi and Storm.it), were remunerated with a definitive return of 11.86% after 12 months. Today, the platform has raised about $8.6 million (€8 million).
In 2019 company collected: over $1.6 million (€1.5 million) in November 2019 for the Terminal Tower, San Cristoforo in Milan; $1.1 million (€1 million) in September 2019 for Le Dimore di via Arena in Bergamo Alta, as part of the partnership with Immobiliare Percassi; $1.6 million (€1.5 million) for ELLE Building in Milan in July 2019, the first campaign in a series as part of an exclusive partnership with the Borgosesia group; $1.1 million (€1 million) for the Gracchi7 project in Milan in March 2019; $812.090 (€750.000) for Torre Milano in Milan at the end of 2018, as part of the exclusive partnership with Impresa Rusconi.
Currently, Concrete Investing is preparing to launch 2 new real estate projects in Milan. One of them, led by an important asset and development management company, aims at the redevelopment of two prestigious mixed-use sky and earth properties located in the historic center of Milan. The second project will involve a new residential complex of about 120 apartments overlooking Parco Lambro in the Feltre district.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in BeBeez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Sono Motors introduces community advisory board
Sono Motors unveiled the latest prototype of its electric minivan with solar cells in the body. In parallel with the...
Ysios Capital invests 30 million in 2020 and plans to enter four companies in 2021
In a year marked by the COVID-19 pandemic, the venture capital manager Ysios Capital carried out six follow-on operations and...
Oxxo enters the fintech ecosystem with its digital wallet Spin
On March 2nd, Oxxo presented Spin, a digital wallet through which it will be possible to manage, send and receive...
AEDESEO asks for €57,000 in crowdfunding to research a new treatment
AEDESO wants to start a clinical study and launched a crowdfunding campaign to raise the necessary money for it. Patients...
Mainz-based biotech company ActiTrexx receives €3.5 million in financing
The biotech company ActiTrexx has recently closed a Series A financing round, during which it raised $4.2 million (€3.5 million)....
Biotech7 days ago
VB Devices closes a €1.1 million round to consolidate its market entry
Business7 days ago
The multifaceted benefits of Augmented and Virtual Reality in education
Cannabis6 days ago
Legalization trend drives cannabis ETFs to significantly grow
Featured7 days ago
ARisk, the startup of predictive risk algorithms, closes €350,000 round