Campaign Close | wecity completes the €740,000 raise for Phase I of a 9-home development in Pallejà (Barcelona)

22/06/2026 – ⏱ 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 Phase I fundraising round of the residential development promoted by Magar Home Promociones S.L. in Pallejà (Barcelona). The operation, structured through a loan secured by a first-rank mortgage, was intended to finance the construction costs to complete a development of 9 homes, 6 garages and 9 storage rooms at Carrer Mare de Déu de Loreto, 47. The subscription process has concluded after completing the fundraising target, consolidating a final amount raised of €740,000. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

The round started from a target of €740,000 corresponding to Phase I of the loan and completed 100% of its allocation in a period of 1 hour and 26 minutes. The analysis of the flow of contributions during that interval records an average contribution ratio of €8,605 per minute.

Investor Base and Capital Distribution

wecity opened the opportunity from a minimum investment of €500 per user.

The operation offers a nominal annual interest rate of 11.00% (TIN) and a total estimated return of 16.50% on the contributed capital over the life of the operation; this estimate is subject to investment risk and is not guaranteed. The total loan amounts to €1,480,000, structured in two phases, of which this call activated Phase I for €740,000. The ordinary term is 18 months, extendable by an additional 6 months, with a 6-month lock-up period and interest paid at maturity. 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, Technical Progress and Developer

The asset is a multifamily residential development built on a 294 m² plot of land, with a total built area of 1,292 m², comprising 9 homes, 6 garages and 9 storage rooms in a residential area of Pallejà, in the Baix Llobregat district, connected to Barcelona by the FGC railway line. On the technical side, the building permit was granted in October 2025 and construction shows a physical progress of 24%, according to the ECO appraisal dated 8 April 2026. Commercially, the development recorded one home reserved out of the 9 available (11%). Repayment to investors is expected upon the formalization of the home sale contracts.

Capital Structure, Coverage Ratios and Collateral

The capital structure combines the developer's contribution with participatory financing. To date, Magar Home Promociones has contributed €1,231,920 in equity, allocated to the asset acquisition, technical costs and the construction works completed. According to the Gloval Valuation appraisal report, the current valuation of the asset amounts to €1,360,705.29 and the valuation under the Completed Building Hypothesis (HET) reaches €3,589,254.11. Against these figures, the loan implies an LTV on the HET of 41.23% (considering Phases I and II) and a first-drawdown LTV of 18.55%.

The collateral of the operation is a first-rank mortgage over the Pallejà asset, whose constitution, management and eventual enforcement are the responsibility of a Security Agent external to wecity. The use of funds is monitored by an external monitoring firm and the movements are channeled through the payment institution Lemonway.

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 principal. This crowdfunding project is not supervised by the CNMV or the Bank of Spain, and the information provided has not been reviewed by these institutions. Likewise, the invested capital is not covered by the deposit guarantee fund or the investor compensation scheme.

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