Pre-opening | SoodCrowd raises €1,800,000 in equity for a 45-home new-build development in San Juan (Alicante)

04/09/2026 – ⏱ 5 min

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

The crowdfunding platform SoodCrowd is preparing an equity transaction in the residential market of the province of Alicante. The project consists of acquiring a plot in San Juan and developing and subsequently selling a new-build scheme of 45 homes, together with parking spaces and storage rooms, across approximately 5,174 square meters of above-ground built area. The developer behind the transaction is Barrio Vivo. Unlike a loan, in this format the investor takes a stake in the project's capital and the return depends on the outcome of the sales; any reference to return is inseparable from the corresponding risk, which is described below.

The call sets a funding target of €1,800,000, the amount with which SoodCrowd investors will enter the equity of the transaction. The projected execution period is 25 months. The platform projects a total estimated return of 42.9% on invested capital and an estimated IRR of 18.6%; both are projections subject to investment risk and are not guaranteed, and actual performance may vary depending on market conditions. The economic structure also provides for a 10% preferred IRR in favour of the investor ahead of any distribution of profits to the developer. The published offering does not specify the opening date and time of the round, the minimum investment per user or an internal credit rating, points the investor should verify in the contractual documentation and in the key investment information sheet before committing funds.

Asset Description, Technical Progress and Commercial Traction

The scheme comprises 45 homes distributed across a ground floor and four upper storeys, with a total above-ground built area of 5,173.8 square meters. The product is concentrated in two- and three-bedroom homes with terraces, within a projected price range of €170,000 to €340,000 per unit, and is aimed, according to the description of the transaction, at families from the local area. The distribution of projected sales by floor is even: the ground floor accounts for 17.1% (€2,425,503), the first floor 20.3% (€2,885,503), the second 20.6% (€2,930,503), the third 20.9% (€2,960,503) and the fourth 21.1% (€2,995,503).

On the planning side, the acquisition of the plot includes the project already drawn up, the building permit already granted and a construction price previously tendered among six contractors, elements the platform identifies as reducing planning and execution risk. The published milestone calendar places the final purchase of the land in October 2026, the tender among contractors in November 2026, the award of the works in January 2027 and the start on site in February 2027. Completion of the works is scheduled for September 2028, the application for the first occupancy licence for October 2028 and the handover of the homes for November 2028. The company that will carry out the project is newly incorporated and has no other activity.

Financial Structure, Coverage Ratios and Risk Mitigation

The total cost of the transaction amounts to €12,437,037, equivalent to €2,403.85 per square meter built. The breakdown by line item places construction as the main chapter, at 61.8% (€7,683,113), followed by the acquisition of the asset at 18.9% (€2,349,554) and other licences, fees and taxes at 5.5% (€678,073). The budget is completed by financial costs (3.4%, €422,272), site management (2.5%, €307,642), marketing costs (2.4%, €301,756), attributable costs (2.4%, €294,173), design work (1.4%, €168,670), title costs (0.8%, €98,648), insurance (0.5%, €61,574), building licences and permits (0.4%, €50,903) and preliminary studies (0.2%, €20,661). The budget also includes a contingency line equivalent to 5% of the construction budget.

The capital structure envisages a total investment of approximately €12.4 million, articulated through €3.0 million of equity and bank financing for the development of the scheme. Within that equity, platform investors contribute €1.8 million and the development team participates with €600,000 of its own capital, a circumstance SoodCrowd points to as a partial alignment of interests. The business plan projects total sales of €14,197,515, equivalent to €2,744.12 per square meter, and an estimated net profit of €1.5 million. The exit strategy is the ordinary sale of the completed homes.

As this is an equity transaction, there is no mortgage guarantee or security interest in favour of investors: the return depends on the outcome of the project. The documentation identifies four areas of risk. Developer risk, tied to the solvency and execution capacity of the management team, for which the mitigants cited are Barrio Vivo's prior experience in projects of similar characteristics in the province of Alicante — where it is based and operates — its multidisciplinary team, and its own capital contribution. Commercial risk, linked to selling at the projected prices and within the set timeframes, on which the platform states that the launch prices sit within the new-build range for the district and that both the province and the municipality are recording a shortage of supply and rising demand. Legal risk, relating to permits, licences and potential litigation, which is subject to legal and technical due diligence and to an external project monitoring service tasked with verifying compliance with the plan. And construction risk, referring to deviations in schedule and cost, analysed through different scenarios and covered in part by the aforementioned contingency line and by the same external project monitoring.

In compliance with the European crowdfunding framework, it is recalled that non-experienced investors have a four-calendar-day pre-contractual reflection period during which they may revoke their investment offer without justification or penalty. This is a crowdfunding product structured as a participation in capital, and not a deposit or a guaranteed savings product. Real estate investments carry risks of illiquidity and of total or partial loss of principal; this vehicle is not supervised by the CNMV or the Bank of Spain, and lacks the coverage of the deposit guarantee scheme provided for in Directive 2014/49/EU and of the investor compensation scheme provided for in Directive 97/9/EC. Investors may not recover the capital contributed.

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