The Italian portal Walliance has closed its first cross-border real estate crowdfunding campaign, i.e. simultaneous in different European countries. As the regulation on European Crowdfunding Service Providers that allows platforms to operate on a European level has not yet come into force, Walliance used the French license obtained from the Autorité des marchés financiers. Indeed, in January 2020, Walliance had set up Walliance France sas in order to operate on the French market as a Conseiller en Investissement Participatif (CIP). The company obtained authorization from the competent French authority Autorité des Marchés Financiers (AMF) on December 17th, 2019.
In detail, the cross-border campaign to finance the Milan, via Fulcieri real estate project was launched on June 26th and in just over an hour reached the maximum target of $3 million (€2.5 million), raising capital from investors based in both Italy and France.
Read more about the first cross-border real estate campaign launched by Walliance and find the most important business headlines of the day with the Born2Invest mobile app.
The current building will be demolished
The offer envisages a projected overall Roi of 26% and a duration of 24 months, with a preferential liquidation guaranteeing priority in the distribution of profits and the return of invested capital. The real estate project involves the demolition of the current building in Via Fulcieri 11 in Milan and the construction of a residential complex consisting of 33 units. Of the total apartments, 8 are already the subject of a purchase proposal. The proponent of the campaign was Niguarda Real Estate srl, the special purpose entity based in Milan, which will be responsible for the development of the Milan, via Fulcieri project and is 67.50% owned by Lira Consulting srl, 12.50% by Dida Holding srl, 10% by Gastone srl, 5% by Metis Advisor srl and the remaining 5% by Alte srl. Niguarda Real Estate is led by Alfonso Walker Meghnagi and Giovanna Siggillino.
Giacomo Bertoldi, CEO of Walliance, explained: “After more than a year of attempts to reconcile regulations and different corporate rights, we are finally ready to make our entry into a country like France, which will certainly give us great satisfaction, ready for the arrival of the next Parisian investment opportunity and the European regulations that will come into force in November 2021.”
Walliance was the first platform to receive authorization from Consob
Walliance is an Italian company active in real estate crowdfunding founded in 2017 by Bertoldi Holding of Giacomo and Gianluca Bertoldi, current CEO and Chief Project Office respectively. The holding company is at the head of the homonymous group that, born in the large-scale retail sector, has holdings in real estate and startups.
Walliance was the first equity crowdfunding platform to receive authorization from Consob for the collection of venture capital for online real estate projects. This year the portal has launched four real estate crowdfunding campaigns in Trento, Florence, Treviso and Milan. In the capital of Lombardy, last April, Walliance reached in a few minutes the maximum collection target of $2.1 million (€1.8 million) for the project Milan, via Stradivari. Recall that Walliance at the end of December 2020 has made its fifth exit: the group AD Casa of Andrea Duranti has in fact returned to shareholders a return on investment of 24% in 26 months, confirming the initial forecast of 2018.
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