Campaign Close | SodaCrowd completes the €450,000 raise for a 6-home development in Tetuán (Madrid)

30/06/2026 – ⏱ 3 min

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

The crowdfunding platform SodaCrowd has issued the closing report for the fundraising round of the residential development of 6 homes in the Tetuán district of Madrid, managed by GLEZCO. The operation, structured through a loan secured by a first-rank mortgage, has concluded after completing the fundraising target, consolidating a final amount raised of €450,000. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

The round started from a target of €450,000 and completed 100% of its allocation over a period of 10 days. The analysis of the flow of contributions during that interval records an average contribution ratio of approximately €31 per minute.

Investor Base and Capital Distribution

The campaign concluded after registering the participation of 88 investors, who covered the entire amount assigned to the opportunity. The distribution of the funds raised among that number of contributors yields an average investment ticket of €5,114 per participant.

The operation is structured as a loan with a 12-month term and a simple interest rate of 10.75%. The expected internal rate of return (IRR) stands at 11.2%; this estimate is subject to investment risk and is not guaranteed. Interest is paid quarterly and the operation has first-rank collateral. In compliance with the European regulatory framework, non-experienced investors have a four-calendar-day pre-contractual reflection period during which they may revoke their commitment at no cost and without justification.

Asset Description, Technical Progress and Exit Strategy

The project comprises the development of 6 homes in the Tetuán district of Madrid, with a distribution that includes one ground-floor home, two on the first floor (left and right), two on the second floor (left and right) and a penthouse. The milestone schedule spans the 12 months of execution: the construction project was approved (visado) in February 2026, the start of works was scheduled for April 2026 and completion for May 2027, with the first-occupancy license applied for in May 2027 and approval expected in July 2027. The project holds a valid urban planning license and the permit from the Madrid City Council.

The project is managed by GLEZCO, a manager that has previously developed projects of similar characteristics in the Tetuán district. The exit strategy is based on the sale of the 6 units, with projected sales revenue of €2,180,000, in line with the per-unit breakdown provided in the project documentation.

Capital Structure, Costs and Collateral

The total cost of the project amounts to €1,885,048, according to the category breakdown provided by the developer, in which the acquisition of the asset represents €765,268 and the construction line €795,366, an amount that incorporates a contingency provision equivalent to 10% of the construction budget. The collateral of the operation is a first-rank mortgage over the asset, and the operation is subject to legal and technical due diligence and to an external project monitoring service responsible for verifying compliance with the established plan.

Finally, in compliance with the regulations governing crowdfunding platforms, investors are reminded that this is a participatory financing product and 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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