Via Piranesi 39, Milano
11 apartments near Milano city centre
- Start of investment period11.04.2019
- Start time02.04.2019 08:15
- Asset classResidential
- Investment typeDevelopment
- Investment end date15.01.2020
- Remaining termOverdue 90+ days
- Expected rate of return12.12% p.a.
- Expected cash yield%
- No of investors988
- Goal€500 000
Via Piranesi 39, Milan investment opportunity is a private residential development which aims at transforming a 540 sqm office & lab into 11 apartments (from 40 to 75 sqm each), located in a rapidly growing residential area of Milan. The entire first floor of the building (a 1950s condo) enjoys a triple exposure on Via Piranesi and on the inner courtyards and is well suited to a transformation into a residential space. The process for the change of destination has already been started. The architect who will manage the procedure has verified all the requirements in order to proceed (report attached).
45% of the apartments have already been booked for sale (5 apartments out of 11).
The Sponsor offers Crowdestate investors to participate in the project by financing up to 31% of the capital needed to finance the entire project. The maximum fundraising target is 500 000 eur, with a minimum target of 200 000 eur.
The total cost of the project is 1 606 070 eur and the Sponsor contributes with a significant equity stake equal to 650 000 eur. Crowdestate will contribute up to 500 000 eur. The remaining part of the capital needed is represented by pre-sales.
Investment exit is expected to be in 9 months. Interest return for investors is 12.12% on an annual basis and the completion date is estimated for January 2020.