The real estate project in Via Visconti di Modrone in Milan, launched last March on the Estonian real estate lending crowdfunding platform Crowdestate, was finalized 2 months in advance of the business plan, thus allowing in a few months the return on the invested capital to the 1,044 investors who had financed it with $893,000 (€750,000) in a single day.
Find out more about the real estate project in Via Visconti di Modrone in Milan and find more about the success registered on the Crowestate platform with the Born2Invest mobile app. Read the latest financial headlines with our companion app.
Investors were repaid $940,000 (€790,000)
The project, carried out by the company Cunietti Oggioni Real Estate, led to the renovation of an office of 220 square meters and its transformation into three high-end apartments. The total repaid capital, including interest, is equal to $940,000 (€790,000) with a return for investors (IRR) of 12% on an annual basis.
“This investment opportunity is a great injection of confidence for the months to come. We have given the opportunity to 1,044 investors to take part in a real estate transaction in the historic center of Milan, managed by a leading real estate company, generating a unique return in this period. We are pleased that a relationship of trust and mutual esteem has been established with the company Cunietti and Oggioni Real Estate. This is the second investment with them, a sign that the added value that we guarantee is a determining factor in a period when the provision of capital is increasingly complicated and necessary. In this way, we have supported a small and medium sized company in its growth process by ensuring that it can carry out an important real estate operation,” commented Niccolò Pravettoni, Country Manager of Crowdestate Italia.
With Cunietti and Oggioni Real Estate, Crowdestate had already successfully closed another investment opportunity: the Meravigli 16 project, also in the center of Milan. The total cost of the project was $1 million (€900,000); Crowdestate participated with a share of $357,000 (€300,000), financed by over 600 investors. The operation was completed in November 2019 in just 5 months, ahead of the 8 months announced, with the sale of all the apartments, allowing investors to repay the capital and pay interest, equal to 11% on an annual basis.
Crowdestate is the first real estate crowdfunding platform in Europe
Crowdestate was founded in 2014 in Estonia by Loit Linnupold, still 100% owner of the company, who prefers to grow with his own means. It was the first real estate crowdfunding platform born in Europe. Given the fast growth and the demand for new investment opportunities, since 2017 the platform has started its internationalization, opening in 7 European countries, including Italy (in 2018). Crowdestate also intends to launch real estate projects in Emilia Romagna and Tuscany.
In addition, the portal is evaluating initiatives of Italian developers in the Spanish and Swiss markets. In general, the focus is on: the main Italian cities, which offer more guarantees both in terms of real estate and liquidity; real estate projects with a time horizon of 12-18 months, with fast returns; renovation and redevelopment of existing buildings. Every investor can also join projects in 7 countries, benefiting from geographical diversification.
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 Crowdfunding buzz, 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.
PagaPhone Seeks to Facilitate Remittance Collection and Boost Financial Inclusion in Mexico
PagaPhone, which already has pre-authorization from the National Banking and Securities Commission to operate as an electronic payment fund institution,...
Rovi Shoots Up 72% its Profit in the First Half of 2021
The Spanish pharmaceutical company Rovi achieved a net profit of $60.3 million (€51 million) from January to June, compared to...
Four Million Round for the Italian Real Estate Crowdfunding Portal Walliance
The Italian real estate equity crowdfunding portal Walliance has closed a $4.73 million (€4 million) round. This is the third...
What Artificial Intelligence Means for Us Today?
Advantage of AI counts the smarter artificial intelligence which promises to replace human jobs, freeing people for other pursuits by...
Credit Suisse: Major Bank Admits Gold and Gold Mining Stocks are Undervalued
Precious metal investments like gold are often overlooked in exchange for more ‘exciting’ opportunities. As a result, they are frequently...
Crowdfunding7 days ago
Trusters’s Real Estate Crowdfunding Fund Raised €7.3 Million in Six Months
Crypto7 days ago
Elon Musk Said Tesla Will Accept Bitcoin Again
Featured7 days ago
How Rating Discrepancies Undermine ESG
Biotech7 days ago
UrbanFisio Launches Virtual Assistant to Surpass €1 Million by 2021