Yeldo Crowd, over 7.6 million for three transactions in the first six months 2024

As a result of the renovation, the asset, with a total commercial area of over 5,000 square metres, will be equipped with 91 double rooms with high quality finishes, half with private kitchens, as well as 90 parking spaces, modern common areas, green areas, a gymnasium, swimming pool, laundry and dining area. The extraordinary maintenance work, which will be conducted with a strong focus on Breeam standards, is scheduled to be completed by Q1 2025.

The second Yeldo Crowd transaction of 2024 remains in the south of Milan. It is a EUR 1.2m project involving the transformation of a commercial property into a modern residential complex comprising 19 residential units at 62 Via Verro, in Milan's SouPra district (South of Prada). The expected Roi is 30.5%, the Irr 12.5% and the expected duration is 27 months.

The flats will be distributed over four floors and will be accompanied by 10 garages and parking spaces, with a total commercial surface area of approximately 1,600 square metres. The residential units, designed with an A energy efficiency classification, will offer high-quality finishes and modern amenities, including home automation systems and underfloor heating. Construction is scheduled to start in June 2024, with completion expected by the end of 2025.

Sponsor of the project is Apeiron srl, a real estate arm of the Genesi Holding Group, with strong experience in the development of real estate operations in Milan. The marketing of the residential units, carried out under the name Versus 62, was entrusted to Dils.

The latest closed collection concerns a EUR 2.5 million residential development project. It is a complex consisting of 88 residential units, including flats and villas, in Varedo (Monza Brianza), in an area currently being redeveloped and developed. "Overall, with the three transactions this first half of the year, we have supported projects for more than 7.6 million investments, surpassing the other platforms active in real estate equity crowdfunding in Italy," continues Dardana.

Accompanying the residential units will be 152 parking garages distributed over a total of three buildings surrounded by greenery within an area of more than 9,600 square metres, the result of modern architectural design and maximum energy efficiency. Construction is scheduled to begin by September 2024, with delivery in 2026. The expected Roi is 52.1%, the internal rate of return 15%, and the planned duration is 36 months. Project sponsor is the MG Group, while the marketing of the housing units has been entrusted to AbitareCo.

Yeldo Crowd, the Yeldo Group's business dedicated to transactions under EUR 5 million, was created in March 2023 'to offer retail investors the same quality standards as institutional investments', marketing manager Silvia Rezzonico explained. To date, 7 transactions have been closed by the crowdfunding platform, for a total of 16.5 million raised.

'In the short term the aim is to consolidate our presence in the Italian market, but within a year and a half the intention is to internationalise ourselves by exploiting the presence of the Yeldo group abroad,' Dardana continues. 'Certainly for us, given the opposite path compared to other players starting from scratch, it was easier to fit in. We were able to count on all the group's know-how, especially after the entry into force of the new European regulation in November last year, which introduced more onerous legislation in terms of internal controls, compliance, supervision'.

At the moment, the real estate crowdfunding market is rather fragmented in terms of equity and landing platforms, but the forecast, according to Dardana, is one of gradual consolidation over the next few years. "There will be some small platforms, which do not reach critical mass, that will disappear, while for the others I expect a trend of consolidation. As for us, until November last year we only had the equity licence, then with the entry into force of the new regulation we obtained the licence to also operate as a landing crowdfunding, but we are still focusing on equity because we have seen that landing as a tool is not optimal. The interest for the investor is taxed under Irpef, so many of our investors prefer other types of investments."