Pre-opening | Cresor Opens a Second €800,000 Phase for 16 Homes in Salobreña (Granada)

23/09/2026 – ⏱ 3 min

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

Cresor, the platform listed in the CNMV register under number 19 which until a few days ago operated as StockCrowd IN, is preparing the second phase of the Residencial Costa Serena project: sixteen detached homes at avenida Andalucía 49 in Salobreña (Granada), by Quality Maru, S.L. Any reference to return is inseparable from the corresponding risk, which is set out below.

The target is €800,000, extendable to €1,500,000, within total financing of €2,400,000 that could reach €3,100,000. The first phase, of €1,600,000, has already been drawn and the platform reports it as not in arrears. The nominal rate is 11.50% per annum, with quarterly interest and capital repaid at maturity over 14 months, extendable by three in exchange for 1.50 points more interest and a 0.50% fee; the total return is put at 13.58%, an estimate subject to investment risk and not guaranteed. The minimum investment is €250 and no opening date or internal rating is stated.

Asset description, construction progress and sales traction

On a structure whose construction was halted, sixteen detached homes are being built around a hundred metres from the sea, fourteen with four bedrooms and two with three, averaging 273 sqm built and 104 sqm of garden. Certified progress stands at 40.10%, with external walls and roofs under way by Construcciones y Reformas Montesur, and the execution project is stamped.

The point deserving most attention is the permit: it was granted on 24 October 2006 and remains in force, according to a July 2026 document, because the town council has not declared it lapsed; the transfer of the permit to the new developer has been applied for, not granted.

There are private sale contracts on five of the sixteen homes, with down payments of between €50,000 and €100,000: €2,857,000 against expected sales of €8,786,000, or 33%. The platform argues that this volume would cover what it has financed across both phases, although payment arrives on delivery. Expected costs total €7,403,077.

Financial structure, coverage ratios and security

The security is the extension of a first-ranking mortgage, with maximum liability of €1,040,000, arranged through a security agent, plus a personal guarantee from the director's spouse. The current valuation is €3,866,348 and the completed-building value €9,639,793; against the current value, the LTV across both phases is 62% and would rise to 80% if the second is extended to €1,500,000. It is worth noting that the fact sheet gives that same figure of €3,866,348 as the construction budget after the works were awarded: two different concepts with an identical amount, and the LTV depends on that value.

The developer's own funds are €470,000, 22% which the fact sheet itself expects to fall to 16% once this phase is drawn. Quality Maru is a special purpose vehicle for developments in Andalusia, unaudited, which reports being up to date with the tax and social security authorities, with no entries in the RAI or ASNEF registers and a profit in its last financial year; its team claims some 150 units, mostly in Almerimar (El Ejido). The platform warns that its partners, managers and employees may invest on the same terms as everyone else.

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; the platform recommends allocating no more than 10% of net worth to such projects. 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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Realty Investor

Your real estate crowdfunding, in one app.

Discover new opportunities. Invest through leading platforms. Manage your whole property portfolio from a single place.

The Realty Investor beta is now available. Explore the market, discover new projects and get to know the platform with simulated money, without putting in any capital.

Download the beta and start discovering a new way to manage your real estate investments.