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A new concept of living in the heart of Milan: 2.5 million euros raised by Gruppo Building and Concrete Investing for Gate Central

Jun , 23
A new concept of living in the heart of Milan: 2.5 million euros raised by Gruppo Building and Concrete Investing for Gate Central

An equity crowdfunding campaign for the recovery of real estate in Milan.

A new concept of living in the heart of Milan: 2.5 million euros raised by Gruppo Building and Concrete Investing for Gate Central.

Thanks to the “Colonne di San Lorenzo” campaign, the new building will rise in the historic area of ​​Porta Ticinese

 

With the restart of construction sites, the Building Group has chosen for the first time to open the capital of its investment in Milan, launching an online equity crowdfunding campaign to finance the construction of Gate Central, a new luxury real estate project designed by the architecture and design studio Antonio Citterio Patricia Viel. The Colonne di San Lorenzo campaign was an extraordinary success, reaching 2.5 million euros, with an expected ROI of 39.1%. This important goal was reached in 14 days, an excellent result for a residential project, thanks to the partnership with Concrete Investing, a platform authorized by Consob and specialized in raising capital for investments in real estate projects in areas of primary interest and high potential. The goal achieved is an important sign of confidence for the restart in a city that wants to run again.

The Building Group, led by Piero and Luca Boffa and which in recent years has become the main point of reference for the sector of prestigious residences in Turin, has taken over a building in the center of the Milanese district of Porta Ticinese and will give new life with the project Gate Central. The building will rise in front of the Colonne di San Lorenzo, one of the most prestigious and exclusive areas of the historic center of the city, where history and culture merge with design and modernity.

A prestigious residence, which will be characterized by design, technology, innovation and energy savings, designed to integrate perfectly with the wonderful surrounding context, with the addition of opening up to commercial spaces. The project attracted the attention of 190 investors, who participated in the “Gate Central – Colonne di San Lorenzo” campaign via the website www.concreteinvesting.com
The funding, open to professional and retail investors, required a minimum entry ticket of € 5,000 and provided for an expected annual rate of return (IRR) of 13.6% with a holding period of 31 months.

“The decision to extend our experience in luxury real estate to the Milan market takes shape after an accurate analysis and selection of development opportunities. Gate Central is the first important element of a broader investment strategy of our Group in the city and represents an investment with high potential, designed to respond to a very selective demand target” said Piero Boffa, founder and President of the Building Group, adding” Crowfunding is now a consolidated phenomenon on a global level and we think that at this stage it is essential for companies to keep up with innovation also on the front alternative sources of finance. We have therefore chosen together with Concrete Investing to carry out a first experience on the potential of the tool with a particularly suitable project in terms of financial strength. Although in our case it is a limited portion of the total equity already available, we believe that having given the opportunity to participate in our operations to a wider audience of non-institutional investors, has been an excellent vehicle for promoting our product “.

“In a complicated national and international context, the success of this collection confirms the appreciation of our strategy which has always focused on primary standing real estate transactions proposed by highly experienced and solid operators, with adequate structures to open up to the market. Such a large participation is the demonstration that the attention we place in the conditions reserved for investors, and in general in the structures of the financial products that we present, is of great interest for both professional and retail investors, even in a moment of uncertainty like the one we are gradually getting out of. These peculiarities will also be confirmed in the next projects in which we are already engaged and which we will present in the next period “commented Lorenzo Pedotti, CEO of Concrete Investing.

Gate Central is not the only new project in Milan for the Building Group. Near the Naviglio Grande, within the Ex Galbani Factory, the group, together with DFA partners, will develop Forrest in Town: a residential village within 6,000 m² of internal garden, a dialogue between technology and natural materials. The Building group is also engaged in China, in Huanggang, where the construction sites have already broken down, for an impressive six-storey shopping center designed by Stefano Boeri Architetti. Inside, BP + P (Boffa, Petrone & partners), the architectural design studio of Building, will take care of designing the common spaces, setting them up according to the principle of sustainability. And in Turin, the city of Building, Domus Lascaris is ready to open, while the renovation and refurbishment of Uptown, a project on the Turin hill, which will redefine the standards of excellence in living, will begin in the summer.

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