Pre-opening | Civislend finances the first tranche of a new-build 36-home building in Carboneras (Almería) through a €2,500,000 loan at 10.00% 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 Civislend is preparing to launch a real estate investment opportunity on the Almería coast. The operation consists of a loan secured by a first-rank mortgage granted to the developer White Shark Real Estate, intended to finance the construction costs of a new-build building of 36 homes with ancillary units in Carboneras (Almería). This call activates the first tranche of the financing. It is worth recalling that any reference to returns is inseparable from the corresponding risk, which is detailed further below.

The call sets a €2,500,000 amount for this first tranche and a nominal annual interest rate of 10.00% (TIN); this return reference is subject to investment risk and is not guaranteed. The term is 24 months, with the option of partial or full repayment without penalty from the end of month 6 and the developer's right to extend the loan by a further 6 months maintaining the 10.00% TIN. The minimum investment is €250 per user, with no maximum, and interest will accrue from the formalisation date, expected within a maximum of 30 days from the raising of funds.

Asset Description, Project Progress and Developer

The project's asset is an undeveloped urban plot of 5,414 square metres in Carboneras (Almería), on which a multi-family building comprising 36 homes, 79 parking spaces and 36 storage rooms is planned, distributed over a ground floor, five upper floors and a below-ground floor, with a total built area of 10,086 square metres and an average area of 147 square metres per home. The developer already owns the land and holds the building licence. The asset is located in Carboneras, on the seafront and in the area of the Cabo de Gata Natural Park. Commercially, marketing has begun with 7 of the 36 homes reserved.

The total amount of this first tranche, €2,500,000, is allocated to the execution of the works: the first drawdown finances the formalisation costs, of approximately €218,030, and the remainder, approximately €2,281,970, will be allocated to construction costs, drawn according to works certifications from an external Project Monitoring firm. The total financing planned for the project amounts to €10,000,000, divided into four tranches. The developer, White Shark Real Estate, is a company with a team of more than 25 years of experience in the development of national and international projects which, according to the information provided, has developed more than 20 projects over the last 25 years.

Financial Structure, Coverage Ratios and Collateral

The operation is secured by a first-rank mortgage over the asset, whose current land valuation amounts to €2,100,000, and a pledge over the shares of the special-purpose vehicle. The first drawdown of the loan (€218,030) results in a first-drawdown LTV of 10%, while the Finished Building Hypothesis (HET) valuation, of €23,500,000 under the cost method, yields an LTV HET of 48% on the total financing amount (€10,000,000). At the time of signing, the allocation of funds places the developer at 89% (€1,690,362) and Civislend at 11% (€218,030).

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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