Pre-opening | wecity finances €1,600,000 (Phase I) for the purchase and refurbishment of 23 homes in Mijas (Málaga), at 10% with mortgage collateral

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 wecity, authorized by the CNMV and registered under number 9, is preparing a real estate investment opportunity in Mijas (Málaga). The operation consists of granting a fixed-rate mortgage loan with a first-rank guarantee to the developer company Skorpio Samica S.L. (Grupo Skorpio), intended for the acquisition of homes within a development of 23 terraced units and their refurbishment. 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 total mortgage loan amounts to €3,200,000, divided into three phases (€1,600,000, €800,000 and €800,000), with a fixed annual interest rate of 10% and a total estimated return of 7.5%; this estimate is subject to investment risk and is not guaranteed. The ordinary term is 9 months (extendable by an additional 3 months), with a 6-month lock-up period and interest paid at maturity. In this Phase I, €1,600,000 is financed for the purchase of 4 homes —which, once acquired, will be added to the mortgage collateral together with the 16 units already purchased by the developer— and for the refurbishment works of the first 20 units; in the following phases, the purchase of the remaining homes and the continuation of the works will be financed. The first drawdown is €776,776.42. The minimum investment is €500 per user and the asset has an A rating. Repayment of the loan to investors is expected upon the sale of the homes.

Asset Description, Planning Progress and Commercial Traction

The project is located at Calle Libra de Riviera, 58, in Mijas (Málaga), and comprises 23 terraced single-family homes with an average built area of close to 80 m², all with a garage and a communal pool. On the planning side, the project has a granted building permit and the works are 25% executed. On the commercial side, the developer has just started marketing (0 of 23 units sold), with a total estimated sales volume of €8,205,000. The developer has contributed €2,078,671 in equity, representing 39.38% of the total funds needed for the development of the project.

Mortgage Collateral and Coverage Ratios

The loan has a first-rank mortgage over the asset. According to the appraisal report by Euroval, the current appraisal of the 16 homes (ECO2) amounts to €3,362,192.89, with an LTV of 47.59%; considering the 20 homes, the appraisal reaches €4,194,341.18, with an LTV of 38.15%; and the Completed-Building Hypothesis (HET) appraisal of the 23 homes stands at €8,082,501.55, with an HET LTV of 39.59%. The first drawdown (€776,776.42) is equivalent to an LTV of 23.10% over 16 homes. The constitution, management and, where applicable, enforcement of the collateral on behalf of investors is the responsibility of a Security Agent external to wecity, and the use of funds by the developer is monitored by an external firm, with the use of funds to be justified at each drawdown. It should be borne in mind that marketing is at 0% and that repayment depends on the sale of the homes.

Developer

Skorpio Samica S.L., part of Grupo Skorpio, is a real estate and services group based in Málaga, dedicated to the promotion, investment and management of assets, with consolidated equity of more than €4.6 million and a presence on the Costa del Sol, according to the information provided.

Investing in this crowdfunding project carries risks, including the partial or total loss of the invested capital. The investment is not covered by the deposit guarantee schemes established under Directive 2014/49/EU nor by the investor compensation schemes established under Directive 97/9/EC, and no return might be obtained. In compliance with Regulation (EU) 2020/1503 and Delegated Regulation (EU) 2024/358, 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—. This crowdfunding project is not supervised by the CNMV or the Bank of Spain beyond the platform's own authorization, and the information provided by the developer has not been reviewed by these institutions. Likewise, the invested capital is not covered by the deposit guarantee fund or the investor compensation scheme.

Realty Investor

Our calendar brings together crowdfunding opportunities from across Europe in one place, so you can plan and follow each issue.

Realty Investor

Your real estate crowdfunding, in one app.

Discover new opportunities. Invest through leading platforms. Manage your whole property portfolio from a single place.

The Realty Investor beta is now available. Explore the market, discover new projects and get to know the platform with simulated money, without putting in any capital.

Download the beta and start discovering a new way to manage your real estate investments.