Walliance Closes Its First Real Estate Crowdfunding Campaign for a Spanish Project

Last March, real estate investment portal Walliance announced its entry into the Spanish market. Yesterday, the first investment offer targeting a real estate project in Spain was presented on the platform by a developer company from Barcelona.

Read more about Walliance and find the most important financial news of the day with the Born2Invest mobile app.

A campaign closed within minutes

The target amount of €1 million was reached within minutes of the launch.

There were more than 120 investors, Italian and French registered on the Walliance portal, who joined the fundraising campaign by investing in the project, toward which the bidding company has provided an exit, with a liquidation preference clause, in 12 months and a return on investment of 13 percent.

Spanish investors, on the other hand, will still have to wait for Walliance to receive European authorization (following the entry into force of the European Regulation on crowdfunding service providers for businesses) in order to join the investment offers presented on the portal.

The real estate project

“Tarragona, Areia” is for a real estate project involving the construction of a residential building facing the sea, consisting of 24 apartments, in the town of Calafell, a maritime town located on the Costa Dorada and part of the province of Tarragona, Catalonia.

The developer company that submitted the project to the portal is Global Service 2005, S.L., a family-owned company with more than fifty years of experience in residential property development in Catalonia.

Who is Walliance

Walliance is a real estate crowdfunding platform that combines investment and financing opportunities in the real estate sector, accessible through the financial instruments of equity, lending, and debt.

Aiming to provide a solution to the complexities encountered in such sectors, Walliance was founded in Trento, Italy in 2016, and was the first equity crowdfunding platform in Italy to receive authorization from Consob to raise venture capital for online real estate projects.

In January 2020, it also became the first Italian portal to be authorized to operate in another European country: France, and today it is also active in the Spanish market.

Walliance is currently positioned as a reference reality for the Italian market with over €97 million raised for 50 different real estate projects.

__

(Featured image by makamuki0 via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in Crowdfunding buzz, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.