Pre-opening | BDKapital finances the refurbishment of a building next to Las Canteras beach (Las Palmas) through a €1,100,000 loan at 9.50% with a first-rank mortgage

19/08/2026 – ⏱ 3 min

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

The crowdfunding platform BDKapital (a crowdfunding service provider authorised by the CNMV under registration number 23) is preparing to launch a real estate investment opportunity in Las Palmas de Gran Canaria. The operation consists of a fixed-rate loan secured by a first-rank mortgage granted to the developer Sanjinestor, S.L. (JUCAN Group), intended to finance the refurbishment of the common areas of a building located next to Las Canteras beach. It is worth recalling that any reference to returns is inseparable from the corresponding risk, which is detailed further below.

The call sets a funding target of €1,100,000 and a fixed annual interest rate of 9.50% (APR of 9.925%), representing a total return of 15.25% on the capital contributed over the term; this estimate is subject to investment risk and is not guaranteed. The term of the operation is 18 months, with repayment of capital and interest at maturity. According to the documentation, the project begins to accrue interest from the date of investment on the platform.

Asset Description, Business Plan and Developer

The operation is based on the refurbishment of a tenanted building, acquired through a transaction with an investment fund, located on the avenue of Las Canteras beach. The improvement works in the common areas are carried out through a responsible declaration, allowing the refurbishment to start immediately. According to the documentation, the property subject to the development is subject to strict confidentiality clauses arising from that transaction, so no additional information can be provided about its address, condition or tenants. Marketing is already resolved: the resulting homes will be sold to the current tenants, with a preliminary agreement and closing prices already negotiated, which, according to the fact sheet, strengthens the repayment capacity.

The developer, Sanjinestor, S.L., is a company based in Las Palmas de Gran Canaria, incorporated in 2002 and dedicated to construction and real estate development and the leasing of properties, part of the JUCAN Group and managed by Jusan Canarias Patrimonial. According to the information provided, the developer commits own funds of more than €1 million to this operation and carries out the works with companies from its own group. The documentation indicates that the company does not appear in defaulters' registers and is up to date with payments to the Tax Agency (AEAT), Social Security (TGSS) and the Regional Tax Agency.

Financial Structure, Coverage Ratios and Collateral

As collateral, the operation is structured with a first-rank mortgage which — according to the documentation — is constituted over an asset of the company different from the one subject to the development: a property located at Calle Párroco Villar Reina, 3, in Las Palmas de Gran Canaria (Las Palmas Land Registry no. 5, registry plot 29,067), currently leased to a company in the health sector. According to the valuation report, the value of the collateral asset amounts to €4,386,885.60, resulting in a Loan to Value (LTV) ratio of 25.07%. Drawdowns of the loan to the developer are made through an external company that monitors the project's progress according to a schedule of milestones.

In compliance with European crowdfunding regulations, it is recalled that non-sophisticated investors have a pre-contractual reflection period of four calendar days during which they may withdraw their investment offer without justification or penalty. This is a crowdfunding product and not a deposit or a guaranteed savings product. Real estate investments carry risks of illiquidity and total or partial loss of principal; this project is not supervised by the CNMV or the Bank of Spain, and is not covered by the deposit guarantee scheme (Directive 2014/49/EU) or the investor compensation scheme (Directive 97/9/EC).

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