A few days after the announcement of the entry into the real estate crowdfunding segment, Mamacrowd, the Italian equity crowdfunding platform managed by SiamoSoci, has launched its first campaign to finance a real estate project, located on via Gallarate 31 in Milan.
The project provides an annual Roi of 13.30%, compared to an estimated duration of 30 months. The funding campaign has a minimum target of $4 million (€3.6 million) and a maximum of $4.9 million (€4.4 million). To date, over $895 million (€804,000) have been collected.
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The G311 Green Living project is certified by Bureau Veritas
The G311 – Green Living project provides for the purchase, development, and sale of an area located in Milan on via Gallarate 311. G311 – Green Living is promoted by the special purpose company G311 srl, controlled by the Milanese company Vitofin. The latter has been successfully operating, since 1980, in the field of real estate development and management. G311 srl, a vehicle set up for the operation and made up of serious and qualified operators in the Milanese real estate sector, who actively participate with a total equity investment of $1.78 million (€1.6 million).
G311 – Green living is certified by Bureau Veritas, a French company that has been on the market for 190 years and is the reference leader for checks and controls to guarantee quality and reliability in real estate and infrastructure projects. The location of the property is strategic, considering that it only takes a few minutes on foot to reach the M1 Bonola stop, a few minutes by car to reach Milan’s western ring road, the A4 Turin-Trieste motorway and the A8 Milan-Varese. The Gallaratese district is also very attractive, thanks to Expo2015 and even more so to MIND (Milan Innovation District), which has made it the new center of Italian innovation.
Three other “generalist” crowdfunding equity portals had decided to expand to real estate: CrowdFundMe and Backtowork which have already launched between last year and this year two campaigns and, more recently, Opstart which announced a dedicated portal.
Mamacrowd is the first Italian platform to offer equity crowdfunding
Mamacrowd, with its first SiamoSoci platform, was the first Italian platform to offer equity crowdfunding in Italy, before the issue of the Consob regulation. In September 2019 the platform opened a $3.34 million (€3 million) capital increase. $2.78 million (€2.5 million) was subscribed, thanks to commitments and payments from shareholders and new investors.
Mamacrowd is the first equity crowdfunding platform in Italy in terms of funding: at the end of June 2019 it was close to (€22 million), as calculated in the fourth Italian Report on CrowdInvesting of the Politecnico di Milano. In the first quarter of this year, the portal closed 5 equity crowdfunding campaigns for $4 million (€3.6 million).
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