18 Dec 2023 - Press Release
YELDO closes 2023 with two new exits: EUR 24m returned to investors
Milan, December 18, 2023 - YELDO (www.yeldo.com), the European Group specializing in institutional-grade real estate deals, announces two new exits generated by its Luxembourg investment fund, Y-Milano Fund.
The operations, the development of a residential portfolio and a conversion project from offices to residential in Milan, involved professional investors who subscribed the investments with minimum tickets of EUR 125,000, totaling approximately EUR 18m. The operations, subscribed between 2021 and 2022 and concluded in 24 and 16 months respectively, ahead of the business plan, generated annualized returns of 16% and 14%, returning over EUR 24m to investors.
These initiatives mark the first projects successfully completed by YELDO Group in Italy, with the support of an institutional partner: DeA Capital Real Estate SGR, a leading fund manager in Italy with over 50 managed funds and 750 assets.
Both operations are part of broader urban redevelopment projects in rapidly growing and evolving neighborhoods in the Milan area. The former involves a portfolio of three residential complexes located in Via Socrate, Via Mambretti, and Via De Rolandi, with the prestigious SA Architecture studio, led by architect Marco Guido Savorelli, involved in the design. The latter concerns a property undergoing residential conversion, located on Viale Certosa.
Lorenzo Belloni, Chief Investment Officer of YELDO Group, comments, "From a real estate perspective, these initiatives had several strengths. On one hand, the macro location of Milan, a city that continues to attract investor interest, and particularly the micro location in areas undergoing significant redevelopment. On the other hand, the investment strategy focused on urban enhancement and change of use, a strategy that allowed for the rapid reimbursement of investors."
With the two recently concluded operations, YELDO Group has successfully completed 10 exits, closing 2023 with a historical average annualized return of 14.6%.
Antonio Borgonovo, CEO of YELDO Group, declares, "We are excited to announce the exit of our first operations in Italy, following previous successes in Switzerland. These exits, achieved ahead of projections and alongside an institutional operator like DeA Capital, confirm the quality of our investment proposals, consolidating our mission: to provide direct access to institutional-grade investment opportunities through technology."
The Group's activities continue to focus on building asset-backed investment products, that reflect the characteristics sought by professional operators: extreme attention to the quality of the underlying collateral, risk-return balance, and the use of protection mechanism on capital and returns.
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