The Spanish real estate crowdfunding platform Urbanitae has landed in Italy with the aim of positioning itself among the leading players in the sector in the short term and reaching a volume of 50 million euros in funded projects in the first year of its activity. For this purpose it will deploy a dedicated team led by Carlo Magnoni.
Magnoni has more than 20 years of experience in the sector and has been associated with investment funds such as Blackstone or Stoneweg, where he was responsible for acquisitions for Italy and Portugal. He also worked at the proptech company Casafari and was, among other things, a director and member of the board of directors of the residential investment company Carlyle in Spain.
Urbanitae internationalization process
Urbanitae began its internationalization process last December by launching operations in France and Portugal, according to a statement.
For his part, the new person in charge in Italy emphasized that, although the phenomenon of real estate crowdfunding in this country is younger than in other European countries, it has recorded remarkable growth in recent years.
Urbanitae specializes in participatory financing projects in the real estate sector between 2 and 5 million euros.