Martin Luther King III
Closed for investment
Martin Luther King III is a RE-URBAN project that consists in financing the company PLA S.r.l. for the urbanization of a plot of land through the construction of a building complex of about 3,000 square meters (SLP) in Potenza.
The operation will be developed over a period of 3 years and includes the following phases:
- Phase 1: purchase of the land
- Phase 2: realization of the complex, divided as follows
- 1 basement with 32 car boxes and 18 cellars
- 1 ground floor with 2 commercial premises
- 6 floors housing a total of 24 apartments;
- Phase 3: sale of the commercial and residential units.
Currently the project has reached the second phase.
These phases will be supported by 5 collection campaigns on RE-Lender.
The land on which the property will be built is located in the residential district of Macchia Romana, where the entrepreneur Francesco Marella, to which PLA S.r.l. belongs, has already built a complex that is currently being delivered. The operation was the first in Italy to be financed also through lending crowdfunding, a tool that has accompanied the entrepreneur until the marketing of the units.
Located in the north of the City of Potenza and a few minutes drive from the center, the Macchia Romana district has undergone major urban and real estate redevelopment in recent years. The area is almost saturated, while the demand remains strong due to its proximity to important service facilities such as the University of Basilicata and the San Carlo Hospital.
Moreover, the complex will be located near the Macchia Romana railway station, a strategic port of call for the city, and the Elisa Claps park, a green lung rising on the former Macchia Romana wood and offering a trekking path, a belvedere area, a picnic area with tables, barbecue and a playground.
The entrepreneur, one of the first in Italy to use crowdfunding, has created other successful campaigns including: Moena, Paestum, Logistic Center, Scalo Ionico, PLA prefabs and Rione Lucania.
Real estate developer information
PLA S.r.l. is part of the Marella entrepreneurial group, headed by Francesco Marella, a graduate in construction engineering, representing the third generation in the real estate and construction industry. During his career, he has also held the following roles: CEO and chairman of the board of Nova RE S.p.A., a real estate company listed on the Milan Stock Exchange. Deputy Chairman of Meridie S.p.A, an investment company listed on the Milan Stock Exchange. Board member of Ream SGR. Managing Director of the family company active in the construction of public infrastructure (motorways and railways).
One of the group's most important projects is reconversion:
Construction of residential and office complexes in Potenza for a development of about 13,000 square meters (revenues of approximately Euro 25 million);
- Renovation and sale of a residential and office complex in Ferrara (11,000 sqm)
- Development and sale of tourist complex in Val di Fassa for 7,000 sqm.
- Urban redevelopment of the former Whirlpool complex in Comerio (VA)
The Martin Luther King III project consists in financing the company PLA S.r.l. for the urbanization of a lot through the construction of a 3,000 square meters (SLP) building in Potenza. The complex will house both commercial and residential units.
- Total amount: € 600,000
- Amortization period: 18 months
- Annual interest rate: 9%
- Interest payment: monthly
- Capital repayment: at maturity (bullet)
- Financing objective: RE-URBAN
- Duration of the collection: 30 days
- Funding opening date: 23/09/2021
- Closing date: 23/10/2021
- Company rating: BB
- Project rating: B+
- Additional guarantees: shareholders' personal guarantee
- Applicant company: PLA S.r.l.