The Italian crowdfunding portal listed on Aim Italia CrowdFundMe has reached the minimum fundraising goal of $478,000 (€400,000) for its first buy-to-sell real estate crowdfunding campaign, subscribed by 82 investors, both retail and professional. The campaign is aimed at supporting the Corte del Tiglio project: the construction of five smart apartments, with state-of-the-art domotics and ultra-low consumption systems, via Bonaventura Zumbini, in the Barona district of Milan. The project had a pre-money valuation of $12,000 (€10,000).
With the funds raised through the campaign, the builder and bidder of the campaign Rinofanto srl intends to support the costs of the operation, from the construction of the property to the expenses for renovation and installations, administration, financial and insurance charges, management, and marketing. The real estate operation will be carried out by Rinofanto srl and will end in March 2022 (date by which the sale of all the apartments is expected). The total price for the sale of the apartments is set at 985 thousand euros, with an estimated annual ROI for investors of 11%, for a total duration of 11 months.
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The bidding company is complying with the pre-established timetable: the change of use has been granted and the works have been proceeding regularly since mid-April
Rinofanto srl boasts a successful track record, with real estate projects both in the residential and commercial sectors, in Milan and also abroad. Among its projects there is Orti Loft Residence, an operation in the Lombard capital for the transformation of spaces used as laboratories in a residential complex, or also a customized villa in Switzerland (Lugano), combining the typical architectural style of the region with ultra-modern and green technologies.
Barona is one of the greenest residential areas in Lombardy’s capital city and is located a stone’s throw from the renowned Via Watt, which is the subject of numerous redevelopment and real estate development projects. As highlighted in the analysis of K2Real (Real Estate Advisory): “The area, where the average price of real estate is 4,660 $/sqm (3,900 €/sqm), is well connected to the main city roads given the adjacency to the outer ring road and Viale Famagosta, from which there is direct access to the A7 Milan-Genoa freeway and the Tangenziale Ovest. The municipal public transport is guaranteed by several bus lines and by the subway (Romolo and Famagosta stations are about 1.5 km away). The railway line is present in the Trenord stations of Romolo and San Cristoforo and in the area there are the IULM University and the San Paolo Hospital. In addition, the redevelopment of the former Richard Ginori industrial complex, along the Naviglio Grande, has attracted the attention of many fashion, design and architectural design brands.” In addition, there is the news that, also in Via Zumbini, will rise the first residential suburb of Milan equipped with hydroponic technology (for crops out of soil).
CrowdFundMe had announced its entry into the real estate market in December 2019, after an initial test with the 02Factory campaign. The entry into the sector had materialized in February 2020, with the launch of the first real estate crowdfunding campaign of 4F Real Estate with a collection goal of $180,000 (€150,0000, which had raised $297,000 (€249,000), followed this year by that of Hemeras with $406,000 (€340,000) raised.
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