GenoCrowd, a real estate investment platform that provides developers with access to capital, is reporting that a recent offering opened to investors has quickly sold out.
According to an email, the Eisenbahnstrasse, Leipzig project, which went live on April 30th with a funding goal of €270,000, was reached in just one week.
Previously reported, GenoCrowd listed the offering on April 30th. The security is expected to generate an annual rate of return of 8.75%.
Additionally, to incentivize a fast closing, the issuer provided a 0.5% bonus for any investor committing capital before the end of May. GenoCrowd reports that all investors will receive the additional interest.
This is the fourth funding from the developer with the prior offering quickly closing.
Real estate crowdfunding is a popular sector of private securities across the EU. GenoCrowd has partnered with Raiffeisenbank im Hochtaunus eG, and is a 100% subsidiary of portagon GmbH.
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