Pre-opening | Civislend finances €3,200,000 of the land purchase for 267 cooperative homes in Puerto de Sagunto (Valencia)

22/07/2026 – ⏱ 4 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 a real estate investment opportunity in Puerto de Sagunto (Valencia). The operation consists of granting a loan secured by a second-rank mortgage intended to finance part of the land purchase and part of the soft costs for the development of a scheme of 267 homes with storage room and garage annexes, under a cooperative regime, managed by Talvion. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

Financial Terms of the Operation

The total loan amounts to €3,200,000, with a nominal annual interest rate of 13.00% (TIN) and a duration of 18 months, extendable by an additional 6 months at the same rate; the developer may make partial or total repayments without penalty from the end of month 6, and in the event of early repayment or extension the interest will be calculated according to the final drawdown period. The disbursement structure contemplates a first drawdown of €2,400,000 for the land purchase, to which formalization costs of approximately €460,790 are added, and the remainder, around €460,790, will be allocated to soft costs against invoices. The minimum ticket per investor is €250, with no maximum limit, and interest will begin to accrue from the formalization date, expected within a maximum of 30 business days after the funds are raised.

Asset Description, Planning Progress and Commercial Traction

The asset is two residential urban plots made up of three parcels (three land-registry entries and three cadastral references), with a total area of 3,148 m², on which a new-build multifamily residential block under a cooperative regime will be built, distributed over two basement floors, a ground floor and ten upper floors, with 267 homes and storage room and garage annexes, plus common areas with green areas, a communal pool, coworking, a bicycle store, a gym and a children's play area. The asset is located in Puerto de Sagunto, a coastal municipality about 30 km from Valencia, with access to the AP-7.

Regarding the planning situation, the building permit will be applied for once the land is acquired, with its granting estimated in the coming months, and work is currently under way on drafting the basic project. Marketing has begun, with 33 of the 135 homes in one of the blocks reserved (25%), at an average sale price of €239,700 including annexes. Civislend's exit will coincide with the sale of the plots to the cooperative and the entry of the developer's bank loan, financing that will be obtained once the building permit is granted and 70% of pre-sales is reached.

Capital Structure, Coverage Ratios and Collateral

At signing, the split of funds is as follows: Civislend participates with 42% of the total (€3,200,000), the developer contributes 15% (€1,126,619) and a bank the remaining 43%, with a land loan of €3,320,006. The collateral of the operation is a second-rank mortgage over the three plots of the project, which coexists with the bank financing —approved and in first rank—; it will be that same institution that subsequently grants the developer loan. The current appraisal value of the collateral amounts to €11,780,173, placing the total LTV at 55%, calculated as the sum of the Civislend and bank loans divided by that appraisal value. It should be noted that Civislend's position is second-rank, meaning it would be subordinated to the bank in first rank in the event of enforcement. The manager is Talvion, a company with about 10 years of activity, more than 21 completed projects and another 30 in progress; this is the third project Civislend carries out with this developer, after La Florista Valencia (2025) and a student residence in Cádiz (2024), both repaid.

In compliance with the European Crowdfunding Regulation (EU) 2020/1503, it is recalled that non-experienced investors have a four-calendar-day pre-contractual 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 specific risks, such as illiquidity, the risk of not obtaining the expected return, the possibility of dilution, or the partial or total loss of principal. This crowdfunding project is not authorized or supervised by the CNMV or the Bank of Spain, and the information provided by the developer has not been reviewed by these institutions. Likewise, the invested capital is not covered by the investment guarantee fund or the deposit guarantee fund.

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