Successful exit: Visconti di Modrone 28, Milan

Reading time: 5 min.

Project sponsor

The Sponsor of the project is “Cunietti e Oggioni Real Estate.” The owners of the company are Tommaso Cunietti and Marco Oggioni.

The company has been active in Milan real estate market for several years, focusing on small residential developments in the center of the city. The Sponsor’s company has already successfully funded 2 other investment opportunities through Crowdestate:

1. Via Meravigli 16, Milan – 310 170 € returned to investors, IRR 11,48% p.a.

2. Via Visconti di Modrone 28, Milan –  789.734 € returned to investors, IRR 12,34% p.a.  

Visconti di Modrone main details

The investment opportunity consisted of the renovation, the change of destination of use and the transformation of a 220 sqm office into 3 exclusive apartments.

The total value of the project was around 1 814 00 €.

Expected rate of return: 12% p.a.

Location: The unit was located in the heart of the city center, 5 minutes away from “San Babila Square” and “Milan Duomo Cathedral” and was very well connected with public transport. 

Fundraising process

Crowdestate loan aimed to finance the renovation costs and other related fees. The fundraising reached 750 000 € (LTV 41%).

1044 investors participated with an average investment of 718 €.

The project got funded within 24 hours.

Project overview

Even though there was a lockdown period, the renovation works were finished in 5 months in accordance with the business plan.

The sales progressed faster than expected which showed the appeal of the location and attractiveness of the apartments. Two out of three apartments were booked before the work was finished in the amount of 1 525 000€.

The return on investment

The exclusivity of the location and the high quality of the project made the investment develop faster than originally expected.

The interest payment was scheduled by the end of October, but the funds got credited to investor accounts by August.

The investments generated an annual return (IRR) of 12,34% for a total amount of EUR 789.734.

Sponsor comments on the cooperation

What were the advantages offered by the Crowdestate platform?

For the kind of real estate operations which we make, the crowdfunding loan through Crowdestate is a good solution. The possibility to finance part of the capital in an easy and quick way, it’s a great benefit. Furthermore, Crowdestate can also be used as a channel of promotion and gives a considerable media impact on our project.

What was the capital structure for the real estate investments?

Besides the crowdfunding campaign, we had additional capital from the bank loan as well as the venture capital funds in order to minimize the risk.

What is your feedback about Crowdestate?

The experience with Crowdestate has been very positive, the team is very professional and available at any time. For this reason, we have continued to work with Crowdestate: the platform is trustworthy and flexible. We would like to keep this beneficial partnership for our next activities in the real estate market.

Crowdestate comment on the project itself:

This real estate opportunity offered the possibility for 1044 investors to take part in this exclusive investment in the heart of Milan. This investment was run by an important real estate development company who provided a very high economic return. 

We are glad to have this special partnership with “Cunietti e Oggioni Real Estate”. That’s the second fundraising for the Sponsor’s project which shows good collaboration, confidence and mutual respect.  

The financial resources raised through Crowdestate support the growth of SME. Furthermore, our platform provided easy access to the needed capital, which means more activities in the real estate sector.

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