Pre-opening | wecity finances the land acquisition for a 26-home development in Castañeda (Cantabria) through an €825,000 loan at 11.00% with a first-rank mortgage

29/08/2026 – ⏱ 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 (a crowdfunding service provider authorised by the CNMV under registration number 9) is preparing to launch a real estate investment opportunity in Castañeda (Cantabria). The operation consists of a loan secured by a first-rank mortgage granted to the developer Cooper Rental S.L. — managed by Cooperhousing Gestora — intended to finance the acquisition of several plots and a building located at Calle Villabañez, 78, on which the first phase of 26 homes of a residential development will be built. 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 €825,000 and a nominal annual interest rate of 11.00% (TIN), with an estimated total return of 11.00% on the capital contributed; this estimate is subject to investment risk and is not guaranteed. The ordinary term has been set at 12 months, with the option of a 3-month extension, and includes a lock-up period of 6 months. Interest is paid at maturity, the minimum investment is €500 per user, and the asset holds a credit rating of AA. The purpose of the financing is the acquisition of the asset, and repayment of the loan is planned through the entry of bank financing.

Asset Description, Project Progress and Sponsor

The asset is a plot located at Calle Villabañez, 78, in Castañeda (Cantabria), with an area of 9,570 square metres and a buildability of 7,920.75 square metres, on which a development of six buildings with a total of 80 homes is planned. This call finances the first phase, of 26 homes, which will feature parking spaces and storage rooms. The project holds a building licence and the works show progress of close to 44%; commercially, marketing has begun recently, with no units sold so far (0 of 26). The investors' exit is planned through the entry of bank financing.

Of the loan amount (€825,000), €612,463.67 is allocated to the acquisition of the asset, €183,836.64 to technical costs and €28,699.69 to loan structuring and wecity's fee. The developer will contribute €591,718.33 in own funds at the time of signing, allocated to the acquisition. The sponsor, Cooper Housing, is a company incorporated in 2024 dedicated to the development of new-build residential projects — mainly in the outskirts of Madrid, Toledo and northern Spain — which integrally manages all phases of the development process, according to the information provided.

Financial Structure, Coverage Ratios and Collateral

The main collateral of the operation is a first-rank mortgage over the asset located at Calle Villabañez, 78. According to the valuation report prepared by Tecnitasa, the Current Valuation (ECO) amounts to €5,486,271.07, which, against the €825,000 loan, results in a current Loan to Value (LTV) ratio of 15.03%. The creation, preservation, management, administration and any enforcement of the collateral will be handled by a Security Agent external to the platform, and the use of funds will be supervised by a monitoring company external to wecity.

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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