Pre-opening | Trusters Funds €300,000 to Refurbish a Five-Home Building in Central Piacenza

20/10/2026 – ⏱ 2 min · By Realty Investor Editorial Team

This article is for informational purposes only and does not, under any circumstances, constitute investment advice or a recommendation.

Trusters is preparing a loan to Immobiltrade Srl to fund part of the purchase and the refurbishment of an entire building at Via Roma 50, in the centre of Piacenza (Italy), where five homes will be created. The file does not mention any real security over the asset.

The fundraising target is €300,000 over 18 months, with quarterly coupons and principal at maturity. The rate depends on the amount invested: 11.00% a year from €250 to €999, 11.50% from €1,000 to €4,999, 12.00% from €5,000 to €14,999 and 12.50% from €15,000, plus an extra "Early Bird" point that applies only to amounts subscribed during the pre-reservation phase; these estimates are subject to investment risk and are not guaranteed. The developer holds an A rating. The repayment example published in the file works out six coupons on a €10,000 investment at 13.00% and calls it the "minimum annual rate": it is the €5,000 to €14,999 bracket plus the pre-reservation point, not the floor of the offer, which is 11.00%.

Asset Description, Planning Progress and Commercial Traction

The property has four floors above ground plus a basement, around 534 m² of saleable area, and will be split into five homes of between 70 and 178 m², two garages, five storerooms and a shared courtyard. The project targets an A4 energy rating with heat-pump underfloor heating and home automation. The preliminary purchase agreement is signed, registered and transcribed, and the project engineer has certified planning and land-registry feasibility, but the permit has not yet been applied for: it will be processed through a SCIA, the Italian certified notice of commencement of works, which this file mistakenly describes as a Consob notification. No pre-sale or reservation is disclosed.

Financial Architecture, Coverage Ratios and Real Security

The file discloses no valuation, no LTV, no total cost, no figure for the developer's own contribution, no split between purchase and works and no exit route. The only thing that allows the deal to be sized are the prices the file itself gives as indicative for central Piacenza, €3,000 to €3,600/m²: applied to the 534 m², they put potential revenue between €1.6 million and €1.9 million, so the €300,000 works out at between 16% and 19% of that figure.

The developer's track record does reconcile. The 43 raises it lists match the 43 it declares, 35 repaid and eight still open for €2,500,000 in Brescia, Desenzano and Chiavari, in line with the more than €8,000,000 it states as returned. All of them ranged from €100,000 to €400,000 over 12 or 15 months: this is the first at 18. And none is in Piacenza, where Trusters funded another deal in May, of €400,000 and with a different developer, to convert offices into homes in a 1920s building.

Non-sophisticated investors have a four-calendar-day pre-contractual reflection period in which to withdraw their offer without penalty. This is a crowdfunding product, not a deposit or a guaranteed savings product. It carries the risk of illiquidity and of partial or total loss of principal. It is not supervised by the CNMV or the Bank of Spain, and it has no cover under Directives 2014/49/EU or 97/9/EC. Investors may not recover the capital contributed.

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