Campaign Close | wecity completes the €800,000 raise for the refurbishment of 10 homes on Calle Pi i Margall in Lleida

29/07/2026 – ⏱ 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 has issued the closing report for the fundraising round intended to finance the refurbishment works of a building of 10 homes and 2 commercial units at Calle Pi i Margall, 40, in Lleida, promoted by Terranest Capital S.L. The subscription process has concluded, consolidating an amount raised of €800,000. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

Subscription Pace

The campaign completed its €800,000 target in a period of 1 day. The analysis of the flow of contributions during that interval records an average subscription ratio of approximately €556 per minute.

Financial Terms of the Operation

The loan amounts to €800,000, with a fixed annual interest rate of 11.25% and a total estimated return of 16.87%; this estimate is subject to investment risk and is not guaranteed. The purpose of the loan is construction work, the term is 18 months (extendable by an additional 6 months), with a 6-month lock-up period and interest paid at maturity. The entire financing will be allocated to the payment of construction costs, with the first drawdown being €167,224. The asset has an A rating. Repayment of the loan to investors is expected upon the sale and delivery of the homes. In compliance with the European regulatory framework, non-experienced investors have a four-calendar-day pre-contractual reflection period during which they may revoke their commitment at no cost and without justification.

Asset Description, Planning Progress and Collateral

The asset is a building located at Calle Pi i Margall, 40, in Lleida, with a plot area of 194 m² and a built area of 1,088 m², whose refurbishment contemplates 10 homes and 2 commercial units. On the planning side, the works have been processed through Prior Communications in accordance with the regulations of the Lleida City Council and will begin once the financing is formalized. On the commercial side, 4 of the 10 homes had already been reserved (40% of the development). The developer has contributed €688,423 in equity to date against the €800,000 loan. The operation has a first-rank mortgage over the asset; according to the report by Sociedad de Tasación, the current appraisal (ECO) amounts to €1,174,042, placing the LTV at 68.14% and the LTV on the first drawdown at 14.24%, while the completed-works valuation amounts to €2,253,056, with a future LTV of 35.50%. 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 is monitored by an external firm. It should be borne in mind that the LTV on the current appraisal (68.14%) is relatively high and only drops to 35.50% if the completed-works valuation is reached, and that repayment depends on the sale and delivery of the homes.

Finally, in compliance with the regulations governing crowdfunding platforms, investors are reminded that this is a participatory financing product and not a deposit or a guaranteed savings product, and that real estate investments carry specific risks, such as illiquidity, the risk of not obtaining the expected return, or 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. 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.

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