Concrete Investing, has announced a crowdfunding campaign for Anfiteatro 7, Impresa Rusconi’s new residential development on the street of the same name in Milan’s Brera district, which bears the signature of Studio ARCHIMI of Milan.
It is expected to raise €4.75 million, with an expected ROI of 37.9 percent and an expected IRR of 13.7 percent, against an expected holding period of 32 months.
This is the largest transaction handled by Concrete Investing since the company’s inception in 2019, as well as the largest equity crowdfunded capital raising ever proposed in Milan.
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The real estate project
Anfiteatro 7 is a residential building in the heart of Brera, a few steps from Corso Garibaldi and Parco Sempione, and adjacent to Porta Nuova. The building will consist of a first body of the building, set back from Via Anfiteatro, and a second, lower structure, built adjacent to the building at Via Anfiteatro 9. Altogether it will consist of 27 apartments, 14 garages and cellars, a commercial space on the ground floor, and a public square.
“With this transaction we want to confirm the successful trend that Concrete Investing is experiencing among investors in the real estate sector, launching a record-breaking collection both for our platform and for the Milanese reality itself,” said Lorenzo Pedotti, CEO of Concrete Investing. “In these years we have validated our ability to propose to private savers and sophisticated investors valuable investment opportunities, in central areas and with prestigious real estate projects. The renewed collaboration with a leading company such as Impresa Rusconi, also in light of the successful collections on previous projects, strengthens our strategy of partnering with operators with a solid track record and capable of operating with expertise and high-quality standards even in complex market phases.”
Real estate developer
Impresa Rusconi is a historic real estate developer founded in 1907 and which, in more than 100 years, has built projects throughout Italy and Switzerland, but especially in Milan.
Concrete Investing’s partnership with Impresa Rusconi is well-established. In addition to Anfiteatro 7, in fact, the two companies have worked together successfully on two Milan projects by Beretta Associati:
Torre Milano, the 80-meter-high residential development in Piazza Carbonari, was recently delivered to the buyers, for which Concrete Investing raised €750,000 and on which the exit was reached with final investor settlement (final ROI 11.86%, final holding period 12 months, final IRR 11.86%).
Talea, a residential building in the Precotto district under construction, for which the company raised €1.5 million (expected ROI 29.7%, Holding period expected 30 months, expected IRR 11%).
“The Via Anfiteatro project represents another important milestone in the history of our company, which has been operating in the Milan market with commitment and transparency for 116 years,” said Carlo Rusconi, president of Impresa Rusconi. “Four years ago we put our trust in Concrete Investing and in an innovative tool like equity crowdfunding in which we strongly believe. Today, in fact, on the eve of our third raising for the Via Anfiteatro project, we renew that trust in our partner with whom we share strategic visions and values.”
Concrete Investing has financed so far 24 real estate projects
Concrete Investing has financed 24 real estate transactions to date in four years of activity, with about €46 million raised, more than 3,000 investments transacted, and 6 exits completed, for a total amount reimbursed of €9 million and returns in line with expectations.
Among the elements benefiting and protecting investors, the platform’s operating model includes a third-party and independent evaluation by the Real Estate Centre (REC) Department of the Politecnico di Milano.
The platform is headed by Concrete srl, which in turn is 41.58 percent controlled by Embed Capital srl, an independent investment company focused on seed, early-stage, and growth startups and innovative SMEs through direct equity investments or convertible financing, while Lorenzo Pedotti owns 32, 67 percent and the rest is distributed among private shareholders.
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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 Crowdfunding buzz, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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