Pre-opening | Civislend Opens a First €2,550,000 Tranche for 20 New-Build Homes in Sant Pere de Ribes (Barcelona)

23/09/2026 – ⏱ 3 min

This article is for informational purposes only and does not constitute investment advice or a recommendation of any kind.

Civislend is preparing a loan secured by a first-ranking mortgage for a new-build development of 20 homes, 22 garages and 4 retail units in Les Roquetes, in Sant Pere de Ribes (Barcelona), some four kilometres from Sitges. It should be remembered that any reference to return is inseparable from the corresponding risk, which is set out below.

This first tranche amounts to €2,550,000, within a maximum loan of €5,470,000 with a second tranche of up to €2,920,000 for construction costs. The rate is 10.00% nominal and the term 24 months, extendable by six, with early repayment without penalty from month six. The minimum ticket is €250, with no maximum. The fact sheet does not state an opening date, an internal rating or the borrowing company.

Asset description, construction progress and sales traction

On a 793 sqm plot, a building of ground floor plus five storeys will be erected, with garages on the ground floor and a pool and solarium on the roof. Of the 3,076 sqm of built area, 1,833 sqm are above ground and allocated to housing. The homes will have three or four bedrooms and two bathrooms, with a stated average area of 103 sqm, and the retail units 143 sqm. It is worth noting that 20 homes of 103 sqm add up to 2,060 sqm, above those 1,833 sqm of residential use: a point to check against the contractual documentation.

The developer bought the land in May 2026, the permit was granted in April and earthworks have already started. Ten of the twenty homes are committed, although only four are sales contracts and the remaining six reservations; the four retail units are reserved. A reservation is not a signed sale. Repayment depends on the sales, with an expected average ticket of €383,400 per home, around €3,735 per sqm, a price the market study commissioned by the platform places in line with the area.

Financial structure, coverage ratios and security

The security is a first-ranking mortgage over the asset, with no additional security in the file. The land is currently valued at €2,243,601 and the completed building at €8,921,929. The platform publishes a first-drawdown LTV of 46%, being the €1,039,548 of that drawdown over the current value, but no LTV on completed value for the loan as a whole.

Of that drawdown, €800,000 releases the developer's own funds and around €239,548 covers formalisation costs; the rest of the tranche, €1,510,453, will be drawn against works certificates verified by an external project monitor hired by the developer itself. The developer contributes €811,104 at signing, 44% of the funds, and around €1,102,821 over the life of the project. The borrower is Global Homes, a subsidiary of Global Service 2005, which reports more than 60 years of activity and over 3,000 homes delivered in the province. This is its third operation with Civislend: the two previous ones, of €2,150,000 and €1,200,000, were repaid in November 2024 and December 2025, both — according to the platform — with slight deviations from the business plan.

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

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