The real estate crowdfunding equity platform Concrete Investing has concluded its second exit. This last one concerns the project Le Dimore di Via Arena: an intervention of recovery and enhancement of a historical building in the center of Bergamo Alta. The operation closed with an average return of 10.13% after 12 months, as initially planned.
The campaign to finance the project, conducted through Concrete Investing, closed in September 2019 with the achievement of the maximum collection target of $1.18 million (€1 million). This is the second exit for Concrete Investing, after the one last February with the Torre Milano project.
“Those who exercised the early exit right (put option) provided for in the offer obtained, after 12 months, a return of 9.81%, while the exercise of the remaining shares by the Sponsor (call option) generated a return of 11.99% over the same period. An extremely positive result that confirmed the expected returns and the undoubted solidity and seriousness of the interlocutor, albeit in a particular scenario,” explained Lorenzo Pedotti, CEO of Concrete Investing.
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The platform has also just closed the campaign to finance the Vasari 3 project by DEA&Partners
The offer, which involved 83 investors with an average ticket of $17,100 (€14,500), reached the maximum target of $1.4 million (€1.2 million) in a few hours.
Vasari 3 will be built in the Porta Romana area of Milan in place of an early 20th-century building. It will develop on two bodies, one on the road, 6 floors, and an internal one, three floors, connected by a raised passage and an internal courtyard planted with a wide botanical variety, for a total of about 25 housing units. There will also be two underground floors that will house garages, cellars, and technical rooms. Delivery is expected by 2023, with an expected return for investors of more than 30%.
In addition, Concrete Investing will soon launch a new campaign for the Varese 10 project: a residential development, also in Milan in the Garibaldi-Porta Nuova area, signed by Arassociati. The campaign has a collection target of $4.5 million (€3.8 million): this is the highest ever proposed by a real estate crowdfunding equity portal in Italy.
Pedotti commented: “Our shrewd strategy of selection of real estate projects continues to be rewarded by investors. Solid operations, in resilient contexts, conducted by experienced operators with a strong track record and the correct risk/return framework. Milan continues its path of requalification and development, attracting more and more institutional investors.
These fundamental aspects will certainly characterize also the next projects that we will propose between now and the end of the year and during the whole 2021, during which we will integrate new products on which we are currently working.”
Concrete Investing is a crowdfunding platform specialized in real estate investments
Concrete Investing is the crowdfunding equity platform authorized by Consob, specialized in raising capital for investments in real estate projects in areas of primary interest and high potential. It allows investors to view, evaluate and invest in selected real estate transactions in a fast and transparent way as well as for real estate developers to expand the sources for the realization of their projects.
Last June, Concrete raised $2.96 million (€2.5 million) for the Colonne di San Lorenzo – Gate Central project in Milan. The campaign was financed in just 14 days by 190 investors, with an average ticket of $15,400 (€13,000), thanks to which it reached the maximum collection target, with an overfunding of 167% compared to the minimum target of $1.77 million(€1.5 million). Last July, Concrete Investing collected $3.9 million (€3.3 million) in 72 hours for the Washington Building real estate project in Milan. To date, the real estate crowdfunding equity portal has raised $17.5 million (€14.8 million) in favor of 9 projects, with an average return for investors of 11.5%.
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