Mamacrowd is the first Italian equity crowdfunding site to sell. The first Mamacrowd-hosted real estate crowdfunding campaign intends to finance a project in Milan, with a minimum funding goal of $4 million ( € 3.6 million). Three other crowdfunding equity sites, “generalist,” have agreed to extend to real estate: CrowdFundMe, Backtowork and Opstart.
A few days after the announcement of entry into the crowdfunding real estate market, Mamacrowd, SiamoSoci ‘s Italian equity crowdfunding site, launched its first campaign to finance an immovable property project, located on via Gallarate 31 in Milan.
The project offers a 13.30 per cent annual Roi, compared with an projected 30-month period. The funding plan has a minimum target of 4 million dollars (3.6 million euros) and a maximum target of 4.9 million dollars (4.4 million euros). To date, it has raised more than $895 million (€804,000).
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Bureau Veritas has approved the project G311 Green Living
The project G311-Green Living provides for the purchase, construction and selling of an area located on via Gallarate 311 in Milan. G311 – Green Living is sponsored by the special purpose company G311 srl, which is owned by Vitofin, a Milanese firm. Since 1980, the latter has operated successfully in the field of real estate development and management. G311 srl, a company set up for service and consisting of serious and experienced investors in the Milanese real estate sector who are actively engaged with a total equity investment of $1.78 million ( € 1.6 million).
G311 – Green Living is accredited by Bureau Veritas, a French organization that has been on the market for 190 years and is the pioneer in inspections and controls to ensure safety and sustainability of real estate projects and infrastructure. The property’s position is strategic, as it takes just a few minutes on foot to reach the M1 Bonola station, a few minutes by car to reach Milan’s west ring road, the A4 Turin-Trieste motorway and the A8 Milan-Varese. Due to Expo2015 and even more so to MIND (Milan Innovation District), which has made it the new center of Italian creativity, the Gallaratese district is also very attractive.
Three other “generalist” crowdfunding equity platforms have agreed to extend to real estate: CrowdFundMe and Backtowork which have already launched two projects between last year and this year and, more recently, Opstart announcing a dedicated platform.
Mamacrowd is the first Italian equity crowdfunding platform to offer
Mamacrowd was the first Italian platform to offer equity crowdfunding in Italy, with its first SiamoSoci platform, prior to the issue of the Consob Regulation. In September 2019 the platform opened a capital increase of $3.34 million ( € 3 million). Thanks to commitments and payments by shareholders and new investors, $2.78 million (€ 2.5 million) has been subscribed.
Mamacrowd is Italy’s first equity crowdfunding platform in terms of funding: it was near (€22 million) at the end of June 2019, as measured in the Politecnico di Milano ‘s fourth Italian Report on CrowdInvesting. The site closed 5 equity crowdfunding projects over $4 million ( € 3.6 million) in the first quarter of this year.
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