Pre-opening | wecity Funds €750,000 for Nine Homes and a Retail Unit in Puerto de Mazarrón, with Six Already Sold

23/10/2026 – ⏱ 2 min · By Realty Investor Editorial Team

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

wecity is preparing a first-ranking mortgage loan of €750,000 to Spanish Repossessions, S.L., a company managed by the estate agency Blue Med Invest, to fund part of the construction of nine homes and a retail unit on Plaza Toneleros, in Puerto de Mazarrón (Murcia).

The rate is fixed, at 10.75% a year, with a term of 12 months plus a possible six-month extension, six months of minimum holding and interest paid at maturity. The total estimated return the file discloses, also 10.75%, is that same rate applied over twelve months; this estimate is subject to investment risk and is not guaranteed. The minimum investment is €500, a cap that also applies per user during the first ten minutes, and the internal rating is A. No opening date is disclosed.

Asset Description, Construction Progress and Commercial Traction

The plot is 230 m² and holds 939 m² of built area, with homes of two bedrooms and two bathrooms. The building permit is in force and construction has already started. Sales are running ahead: six of the nine homes are sold and so is the single retail unit, and those buyers will contribute €260,000 to the works through staged payments. The investors' exit is expected on handover of the homes, not on a pending sale.

Financial Architecture, Coverage Ratios and Real Security

Tinsa's valuation puts the current value at €735,291.60 and the completed-building value at €2,028,217.22. The two ratios the file discloses do reconcile, but they are calculated on different bases: the 36.98% LTV divides the whole loan by the completed value, while the 26.25% first-drawdown figure divides the €193,000 of that first disbursement by the current valuation.

The developer has contributed €420,338 of own funds for the land, the start of the works and the associated costs, 36% of the funds alongside the loan, or 29% if the buyers' staged payments are also counted. Adding the three sources, €1.43 million, the completed-building value leaves a margin of around €598,000. Not all of that amount reaches the works: wecity's success fee, 4.50% plus VAT, and the costs of registering the mortgage are financed within the loan. The funds sit in escrow and are released by an external verification firm, with the use of the money monitored by a company outside the platform and a security agent named in the loan agreement.

One drafting detail in the file: the security section refers to the loan "in this first phase", but the total loan amount is that same figure and the file describes no later phase.

Non-sophisticated investors have a four-calendar-day pre-contractual reflection period in which to withdraw their offer without penalty. This is a crowdfunding product, not a deposit or a guaranteed savings product; the platform recommends not allocating more than 10% of net worth to this type of project. It carries the risk of illiquidity and of partial or total loss of principal. It is not supervised by the CNMV or the Bank of Spain, and it has no cover under Directives 2014/49/EU or 97/9/EC. Investors may not recover the capital contributed.

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