Pre-opening | Civislend finances the land purchase for ten single-family homes in Granada through a €1,000,000 loan

22/06/2026 – ⏱ 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 an investment opportunity in the city of Granada. The operation consists of granting a loan secured by a first-rank mortgage to the developer Vivantia Homes, intended to finance part of the purchase of a residential plot on which a development of ten new-build terraced single-family homes will be built. Investors should keep in mind that any expected return is inseparable from the corresponding risk, which is described below.

The total loan amounts to €1,000,000, with a nominal annual interest rate of 10.50% (TIN) and an initial term of 15 months, extendable by an additional 6 months. A single drawdown of approximately €900,000 will be made for the land purchase, to which loan formalization costs of approximately €100,000 are added. Interest is paid under a bullet structure, settled at the time of the total repayment of the loan, with the possibility of total or partial early repayment without penalty from month 4. The minimum ticket per investor is €250, with no maximum contribution limit. Interest will begin to accrue from the formalization date, expected within a maximum of 30 business days after the funds are raised.

Asset Description, Technical Progress and Commercial Traction

The asset is a residential plot located in the Carretera de la Sierra area, on the east side of the city of Granada, close to the Generalife and Alhambra surroundings and next to the Genil River. It is a consolidated low-density area, with terraced homes and a full range of services. The project comprises ten terraced single-family homes, laid out across a basement, ground floor and first floor, with three bedrooms, two bathrooms and a guest toilet, a basement garage, terraces and a private pool in some of them. The total built area is 2,054 m², with an average area of 205 m² per home.

On the urban-planning side, the building permit has not yet been applied for and will be processed once the land is acquired. Marketing has not begun and is estimated for the coming months. Civislend's exit will coincide with the granting of the developer's bank loan, once the building permit is obtained.

Financial Structure, Collateral and Risk Mitigation

The funding structure at the time of signing combines the developer's contribution with participatory financing: Vivantia Homes contributes approximately €500,000, equivalent to 33% of the funds required, while Civislend contributes the remaining 67%, that is, €1,000,000. According to the appraisal certificate, the current value of the project's land amounts to €1,684,811, implying a total LTV of 59%, calculated as the total loan amount divided by the current appraisal value.

The main collateral of the operation is a first-rank mortgage over the asset, with a current appraisal value of €1,684,811. The project is promoted by Vivantia Homes, a real estate group with more than 20 years of experience in the development of homes and multifamily buildings in various locations in Spain —such as Marbella, the Canary Islands, Bilbao and Granada— and internationally. The market study included in the documentation analyzes new-build and second-hand terraced homes in the area and concludes that the project's prices are in line with the market.

In compliance with the European Crowdfunding Regulation (EU) 2020/1503, it is recalled that non-experienced investors have a four-calendar-day reflection period during which they may revoke their investment offer at no cost and without justification. It is also warned that this is a participatory financing product —not a deposit or a guaranteed savings product— and that real estate investments carry risks of illiquidity and partial or total loss of principal; this vehicle is not supervised by the CNMV or the Bank of Spain, and lacks the coverage of the deposit guarantee fund or the investor compensation scheme.

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