Malatesta 8, Milano, Italy
Transformation of a commercial property into a 2-bedroom apartment.
- Start of investment period18.02.2020
- Start time12.02.2020 11:25
- Asset classResidential
- Investment typeSpeculative
- Investment end date27.07.2020
- Remaining termOverdue 90+ days
- Expected rate of return11% p.a.
- Expected cash yield%
- No of investors353
- Goal€100 000
Malatesta 8, Milan, Italy investment opportunity consists of the renovation and transformation of a 70 sqm commercial property into a new 2-bedroom apartment. The unit is located in the “De Angeli / Rembrandt” Milan district, an area very well connected and adjacent to the city center.
The sponsor of the initiative is Diamond Srl, which has already purchased the property. The renovation works have just started and the change of destination of use has also started. The sale of the apartment will begin in the coming months.
The market demand in this area is growing rapidly, due to the still affordable selling prices compared to the city center and the high number of public transportations available in the neighborhood.
Crowdestate loan aims to mainly finance the renovation costs and other related fees.
The total value of the project is around 207,000 Eur. The fundraising goal is 100,000 Eur.
The investment exit is estimated at 10 months. The interest offered to investors is 11% on an annual basis and the repayment date is scheduled for the end of December 2020.
The sponsor of the initiative is Diamond Srl, which has already successfully funded 2 other investment opportunities through Crowdestate. The projects of "Via Fiuggi 12" and "Via Genovesi 1" in Milan are proceeding as per the business plan and plan to exit in the next few weeks.
The loan to the Sponsor company is guaranteed by 50% of the Diamond shares held by Crowdestate. In addition, there is a personal guarantee for a total of 100,000 Eur.