San Babila, Milano, Italy
Development of 3 apartments in the historic center of Milan
- Start of investment period13.07.2020
- Start time16.06.2020 11:00
- Asset classResidential
- Investment typeSpeculative
- Investment end date25.06.2021
- Remaining termOverdue 90+ days
- Expected rate of return12.3% p.a.
- Expected cash yield%
- No of investors721
- Goal€450 000
San Babila, Milan, Italy investment opportunity consists of an exclusive residential development project located in the historic centre of Milan, Italy and aims at the creation of 3 apartments, located at Via Visconti di Modrone 18, a few meters from San Babila Square and the Duomo of Milan.
The sponsor of the project is “Interior Tech”, a company specialized in real estate development operations both personally and on behalf of third parties, as “general contractor”.
The Sponsor will complete the purchase, renovation and transformation of a 150 sqm property into 3 residential units. The space used to be a bookshop specialized in the sale of architectural texts and at the moment it is totally free. One of the three apartments, a studio apartment, has already been sold with a purchase agreement signed for a total value of 352,000 Eur.
The remaining two properties for sale are gaining strong interest and some buyers have already submitted a purchase offer that the Sponsor is currently evaluating.
The completion of the renovation and the sale of the apartments is expected by February 2021. Total expected revenues are equal to 1,187,000 Eur.
The value of the apartment already sold totally covers the minimum fundraising goal of 350,000 Eur. This means that a large part of the crowdfunding loan can be repaid through the already confirmed sale. This makes the project extremely solid.
Interest payment will take place after 8 months, at a 12% annual interest rate.
Crowdestate investors have already funded similar projects in nearby areas of the city of Milan, which are showing excellent performance and reliability. As a demonstration that, despite the lockdown period that has now passed, the real estate market in the centre of Milan remains a guarantee for investors.
The loan is guaranteed by 30% of the shares of the sponsor company owned by Crowdestate.