The participatory financing platform, Wecity has managed to finance a project in Record time. On less than an hour has managed to solve 1,200,000 euros, something unusual in the real estate crowdfunding sector since it is about financing a new business model such as coliving.
This new project has had the participation of more than 50 investors, both institutional and private, where the average ticket has exceeded 23,500 euros. The investment opportunity launched by Wecity consists of the transformation into coliving of a premises with a total area of 818 square meters located at Calle Max Aub, 5 in Madrid.
Divided into three floors, the objective of the project is the integral rehabilitation for its transformation into tourist apartments or coliving for its subsequent sale. The term of the operation is estimated at 15 months and the estimated total profit, after taxes, it will be 25.12%.
Rafael Merry del Val, founder and president of Wecity, has pointed out that, “The interest of investors in this opportunity is due to two factors, on the one hand, the location of this project, which is perfect for renting rooms in the case of short stays; and on the other, the positive assessment made by investors of participatory methods that allow them to be part of a sector in full growth such as coliving, a residential solution on the rise due to its many advantages “.
Coliving boom
Despite the distance measures established due to the Covid-19 pandemic, more and more people prefer to share expenses and live with like-minded people, which has made the coliving sector one of the most demanded by investors . So much so, that investment in this type of asset reached 83.4 billion euros in 2020, and forecasts predict that its investment by the end of this year will rise 18 points to 59%.
After this operation, Wecity, the company of real estate crowdfunding which has managed to finance projects worth six million euros in its first year of activity, continues to work on new opportunities that are of interest to its investors.
