Funded
  • Deadline
    13.12.2020
  • Start of investment period
    10.12.2020
  • Start time
    02.12.2020 11:00
  • Asset class
    Residential
  • Investment type
    Development
  • Investment end date
    31.12.2021
  • Remaining term
    Overdue 1-90 days
  • Expected rate of return
    11.5% p.a.
  • Expected cash yield
    %
  • No of investors
    555
  • Goal
    €200 000

Executive summary

“Ponte Seveso 25, Milan, Italy” investment opportunity involves the renovation and transformation of a 550 m2 office into 9 elegant apartments, in a very central area that is extremely well connected to the heart of the city of Milan.

The Sponsor already bought the entire first floor of an early 1900s building. Currently, the first floor is used as an office area + terrace, but since the room has windows on every side it is suitable for transformation into residential units.

The Sponsor company, “Investing in Italy Srl”, has already verified that all the conditions are in place to proceed with the change of destination of use and just bought the property as planned. The purchase took place during the month of November 2020, right after completing the first fundraising tranche through Crowdestate.

Investing in Italy Srl, the Sponsor company of the initiative offers Crowdestate investors the opportunity to participate again in the project by financing a part of the capital necessary to complete the renovation works. The fundraising goal of this second tranche is 200,000 Eur. Crowdestate's total exposure in the project will reach a maximum of 700,000 Eur, through new funding tranches useful to finance part of the renovation works. The investment LTV is very limited, no more than 36%.

The total cost of the project is 1,873,500 Eur and the Sponsor contributes an important share of equity equal to 1,200,000 Eur. Crowdestate will contribute up to 700,000 Eur. The exposure may be lower depending on the value of the presales.

The duration of the total project is expected to be 14 months. The return for investors is 11.5% on an annual basis (IRR) and the completion date is estimated for December 2021.

The loan is guaranteed by two personal guarantees equal to 400,000 euros issued by the shareholders of the sponsoring company of the initiative. 

Crowdestate

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