Pre-opening | SEGO Real Estate finances €110,000 in a second-rank mortgage loan on a home in Illescas (Toledo), at 12% per year

28/07/2026 – ⏱ 3 min

This article is for informational purposes only and does not, under any circumstances, constitute investment advice or a recommendation.

The crowdfunding platform SEGO Real Estate is preparing a real estate investment opportunity in Illescas (Toledo). The operation is structured as a loan secured by a second-rank mortgage to the developer El Buen Vecino Casas S.L. (Vecisa), intended in part to recover the amount the developer contributed from its own resources to acquire the asset and to continue the refurbishment of a home located in the Villas del Golf development. 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 loan amounts to €110,000, with a return of 12% per year and a total return of 18% on the invested capital over a term of 18 months from the drawdown of the loan; this estimate is subject to investment risk and is not guaranteed. Repayment is made in a single payment at maturity (principal plus interest), and the late-payment interest is 16%. The collateral of the operation is a second-rank mortgage constituted over the property, complementary to an existing first-rank mortgage, registered at Land Registry No. 1 of Illescas (Property 15803, Entry 14). The mortgage appraisal value of the asset amounts to €346,688.10.

Asset Description and Repayment Sources

The asset does not start from a development phase but from an already completed home: a single-family terraced house of 243 m² built on a 420 m² plot, built in 2006, with a swimming pool, garage and garden, located at Calle del Centro, 33, in the Villas del Golf development, in Illescas (Toledo). The property is currently leased with a purchase option agreed for €340,000. Repayment of the loan relies on two complementary sources: the periodic payments derived from the lease with a purchase option in place and the exercise of that option for €340,000, which constitutes the operation's planned exit. Illescas is located about 35 km from Madrid, with connections via the A-42 and AP-41 and a railway station in the municipality, and has developed as a logistics and industrial hub in Castilla-La Mancha.

Developer

El Buen Vecino Casas S.L. (Vecisa) is a Spanish real estate developer specialized in the acquisition of assets, their regularization, refurbishment and subsequent marketing. According to the platform, it has previously executed projects financed in SEGO Real Estate's real estate investment line, including "Cabo de la Nao – Jávea", "Cabo de la Nao – Jávea II", "Boadilla – Urumea" and "Bimba Vigo".

Risks and Considerations

Among the identified risks are project and administrative risk, sector and macroeconomic risk, the risk of default or insolvency of the developer, the risk that returns are lower than expected or delayed, the risk of illiquidity of the investment until the project ends, and the risk of a fall in home prices. It should also be borne in mind that the collateral is a second-rank mortgage, subordinated to the existing first-rank mortgage over the property.

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, or the partial or total loss of principal. This crowdfunding project is not supervised by the CNMV or the Bank of Spain, and the information provided has not been reviewed by these institutions. Likewise, the invested capital is not covered by the deposit guarantee fund or the investor compensation scheme.

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