The real estate lending platform Italy Crowd launches its first major real estate project. This is the project for the construction of an Assisted Health Residence (RSA) of 180 rooms, which will be built in the municipality of Chieri (Turin), for a total investment of $21.2 million (€20 million).
The project involves the development of two RSA facilities in Chieri (TO), Sant’Anna locality, Strada Andezeno (traffic circle for Strada La Rezza).
The first houses a total of 120 beds and is divided into 5 floors above ground. On the ground floor are located the common services, on the upper floors there are two-floor nuclei of 20 beds each plus the core services.
The second houses 80 beds and is divided into 4 floors above ground. On the ground floor, there are common services, on the upper floors there are two floors with 20 beds each plus the core services.
The crowdfunding campaign is aimed at raising only a small amount of capital, 160,000 Euros, which will be used to pay off the financing of the land and to speed up the authorization process of construction.
The sale contract, signed by Namira SGRpA, an asset management company registered at no. 112 in the register of SGRs – Section FIA Managers, paid to La Merisa Srl (Proponent of the project) a further tranche of $185,000 (€175,000) on May 2nd, 2022, and a third of $280,000 (€265,000) will follow by December 12th, 2022.
At the end of the transaction La Merisa Srl will collect from the sale of the land and related real estate project 1.6 million, with a gross profit of $796,000 (€752,000) equal to an ROI of 88%.
According to the technical board of Italy Crowd, this is therefore a “Bridge Loan” operation, with a low-risk investment because it is already “guaranteed” by the preliminary act of sale.
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Italy Crowd was launched in Italy on January 12th, 2015, importing a business model authorized in Switzerland
Vecchi in fact, after a trip to the U.S. in 2010, realized that crowdfunding was becoming very relevant to the search for capital, so he began to study a system to develop real estate crowdfunding. In 2014, he launched Swiss Crowd, the first real estate crowdfunding platform in Switzerland, with Italian software, which he then exported to our country the following year.
At the time, crowdfunding was not yet regulated, so Italy Crowd was born with a hybrid business model, where the collection was done on a maximum of 20 investors. In August 2020, Italy Crowd aligned itself with current crowdfunding regulations, becoming a payment agent for the payment institution Lemonway. Also in 2020, the portal launched the first blockchain-native real estate lending crowdfunding platform in Europe. Italy Crowd’s founding partners are Augusto Vecchi, Luana Leonini (majority partner), Andrea Gianninoni, Simone Mannelli, Paolo Siligoni (CEO of Swiss Crowd).
Since 2020, Italy Crowd has raised $1.83 million (€1.73 million), including $975,000 (€920,000) from 7 projects in the first 4 months of 2022, and has returned $338,300 (€319,340) in advance from 4 fundraisings that have recorded an average return of 12.5% on an annual basis.
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