The Department of real estate of Fellow Funders has closed, in just four days, its largest round of financing for a real estate project. The House Flipping Príncipe de Vergara project has raised 3,100,000 euros for the purchase of a commercial premises and its subsequent transformation into 21 homes for sale.
In parallel, the financing platform has closed another round of 610,000 euros for the purchase of land and the construction of two luxury villas in Pozuelo (Madrid). In addition, last Friday a new round was opened, with the aim of raising 760,000 euros for the Promotion Fifth of the Mills, which consists of the construction of a seven-unit building on the Alcalá – Arturo Soria axis (Madrid). So far this year, Fellow Funders Real Estate has raised a total volume of €10 million for six projects.
With tickets starting at 1,000 euros, for the Promotion projects in Pozuelo and Quinta de los Molinos, and 2,500 euros for the project House Flipping Príncipe de Vergara, the estimated returns offered by the platform have been 39% in 28 months for Pozuelo, 19% in 14 months for Príncipe de Vergara and 28% in 20 months for Quinta de los Molinos. Rounds, therefore, ideal for investors who want to obtain a return in short terms.
The promoters, both House Flipping Príncipe de Vergara and Promocion Quinta de los Molinos, are companies that had previously trusted Fellow Funders for the search for capital for your projects. Both Re-Aviva and Onys are betting again on this type of alternative financing.
For Pablo Barriopedro, senior partner in the real estate area of Fellow Funders, “the strong commitment that we have made from the real estate area is demonstrating the good progress of the division, with a well-trained team of professionals and always with projects of great projection. We hope to close the year with fifteen rounds that bring together a total volume of 20 million euros”.
