Pre-opening | StockCrowd IN finances the construction of 3 detached homes in Galapagar (Madrid) with €750,000 at 10% with a first-rank mortgage and quarterly interest

02/09/2026 – ⏱ 3 min

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

The crowdfunding platform StockCrowd IN (a crowdfunding service provider authorised by the CNMV under registration number 19) is preparing to launch a real estate investment opportunity in Galapagar (Madrid). The operation consists of a loan secured by a first-rank mortgage granted to the developer Encopiso Inversión Inmobiliaria, S.L., intended to finance the outstanding costs of the "Residencial Los Jarales" project, for the construction of three detached homes in the Los Jarales development. It is worth recalling that any reference to returns is inseparable from the corresponding risk, which is detailed further below.

The call sets a total financing amount of €750,000 and a nominal annual interest rate of 10.00% (TIN), with an annual return of 10.38% and a total return of 10.00%; these references are subject to investment risk and are not guaranteed. The maturity term has been set at 12 months, extendable by three additional months with an increase in the economic conditions (1.50% on the interest rate and 0.50% on the platform's fee). Unlike other operations, interest is paid quarterly —settled in arrears—, while the principal is repaid at maturity, with 50% linked to the first sale and the remaining 50% to the second. The minimum investment is €500 per user.

Asset Description, Construction Progress and Developer

The project is located on Calle Almendro (nº 14 and 16) and Calle Pino (nº 5 and 7), in the Los Jarales development, in Galapagar. The original plot, acquired entirely with own funds, was segregated into four independent plots; one of them (Plot C, with a 1979 home) has been sold for €620,000 and is not part of the project. On the three remaining plots —consolidated urban land— three detached homes of 185 sqm built and 59 sqm of terrace are being built, arranged over two floors, with four bedrooms, a garage for two vehicles and an independent swimming pool. The project holds a stamped execution project and a new-build permit, and the works have started with an estimated progress of 35.40% —earthworks, foundations and structure completed—, with delivery expected in the second quarter of 2027. Marketing has not yet begun, with an estimated sale price of €850,000 per home.

The developer, Encopiso Inversión Inmobiliaria, S.L., contributes €884,838 in own funds (54% of the investment) and works with the construction company Encocasa Constructora SL, which acts as guarantor of the operation, according to the information provided. This is the first project financed by StockCrowd IN. The investors' exit will take place through the sale of the homes.

Financial Structure, Coverage Ratios and Collateral

The main collateral of the operation is a first-rank mortgage over the three plots, with a maximum mortgage liability of €975,000, instrumented through a Security Agent and reinforced with the guarantee of the construction company Encocasa Constructora SL. According to the valuation, the value of the current state amounts to €1,255,347, which determines a first-drawdown LTV of 60%, while the completed-state value (VET) stands at €2,427,897. The total project costs are estimated at €1,634,838 and the total sales revenue at €2,550,000.

In compliance with European crowdfunding regulations, it is recalled that non-sophisticated investors have a pre-contractual reflection period of four calendar days during which they may withdraw their investment offer without justification or penalty. This is a crowdfunding product and not a deposit or a guaranteed savings product. Real estate investments carry risks of illiquidity and total or partial loss of principal; this project is not supervised by the CNMV or the Bank of Spain, and is not covered by the deposit guarantee scheme (Directive 2014/49/EU) or the investor compensation scheme (Directive 97/9/EC).

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