SodaCrowd Raises €600,000 for the Upfront Costs of 28 Homes in Foios, on the Doorstep of Valencia

18/10/2026 – ⏱ 2 min

SodaCrowd completes the €600,000 bridge loan for the building licence and technical costs of 28 homes in Foios (Valencia), over nine months

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

The land on which 28 homes will be built in Foios, on the doorstep of Valencia, has raised €600,000 on SodaCrowd in 26 hours, around €385 per minute. It was contributed by just 102 investors, with an average of €5,882: a small base with large tickets.

What is being financed is not the construction, but the costs that come before bank financing: the building licence, the basic design, technical fees and marketing. The licence was applied for on 2 October and has not been granted, and neither construction nor marketing has started. The plot, of 808 m² with 2,374 m² of buildable area next to the metro, already belongs to the borrower, Sanmar Foios SPV, free of encumbrances.

The drawdown breakdown explains where the money goes: €226,361 to recapitalisation —38%, which goes back to the developer—, €160,476 to the licence and technical costs, of which €75,303 is the construction tax, €65,340 to pre-construction management, €75,000 to a twelve-month interest reserve and €36,300 to the platform fee, plus around €26,500 for notary, taxes, registry, lawyers and the security agent and €10,000 for contingencies. The items add up to exactly the amount raised: the operation finances its own interest in advance and returns more than a third to the developer.

The operation is a loan: investors lend the money to the developer through the platform, and the developer undertakes to repay it with interest within the agreed term, nine months plus a three-month extension without penalty, with early repayment from month 6 and a simple target interest rate of 12.5% per year paid quarterly; the file puts the total return at 9.4% over nine months and the IRR at 13.1%, figures that are consistent with one another. The security is a first-ranking mortgage over the land, valued by Euroval at €1,094,154, from which the 54.8% LTV is derived: that valuation is 32% above the €825,862 that the model itself records as the land purchase. And repayment does not depend on selling homes, but on bank financing and equity coming in once the technical and administrative milestones have been reached.

Investing in real estate crowdfunding carries the risk of losing part or all of the capital: the money is tied up until maturity, the return is not guaranteed and there is no cover from the Deposit Guarantee Fund. No guarantee eliminates that risk, and the pace of the raise does not anticipate how the operation will end. Non-sophisticated investors have four calendar days of reflection in which to revoke their offer without penalty.

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