Pre-opening | Wecity opens the €2,000,000 Phase II for the 40 apartments of Santa Rosalía Lake

16/10/2026 – ⏱ 3 min

This article is for informational purposes only and does not constitute investment advice or a recommendation of any kind.

Wecity is preparing Phase II, of €2,000,000, of a €3,000,000 loan secured by a first-ranking mortgage to complete a tourist complex of 40 apartments in Santa Rosalía Lake, in Torre Pacheco (Murcia). The borrower is Orbesol Luxury Homes, part of the Orbesol group, based in Orihuela.

The term is five months plus a three-month extension, with a fixed rate of 11% per year and interest at maturity, and an estimated total return of 4.58%, which is consistent with that rate over five months; that estimate is subject to the investment risk and is not guaranteed. The rating is AA, under a methodology that the platform warns is not comparable with that of rating agencies and does not measure the suitability of the investment. The minimum investment is €500, which is also the maximum during the first ten minutes. Phase I, in June, was €1,000,000 at the same rate and over nine months.

Asset description, construction progress and sales traction

The plot covers 6,784 m² and houses 40 tourist apartments in five buildings, with a garden, swimming pool, garage and storage rooms, plus a building with a reception, café and gym. The land belongs to the developer, the licence has been granted and the valuation puts construction progress at 72%.

Sales are ahead of construction: 34 of the 40 units have been sold, 85%, at around €293,000 each. That is four more than in June, when there were 30: one sale a month, with six units still to be sold. At that price the 40 would add up to €11,720,000, 10% above the completed building valuation.

Financial structure, coverage ratios and security

The developer has contributed €500,000, for the initial payment on the land and technical costs, and the buyers €3,358,158.12 in payments on account backed by guarantee insurance. With the million from Phase I and the two from this phase, the developer puts in 7% of the €6.86 million mobilised. And repayment is planned precisely from those payments on account, not from the sale of the six remaining units.

The current valuation by TS Sociedad de Tasaciones is €6,867,004.45 and the completed building valuation is €10,655,771.40. The published ratios refer to the full loan, not to this phase: the 43.68% labelled “LTV (Phase II)” divides the €3,000,000 by the current valuation, and the 28.15% HET, which the text attributes to the €2,000,000, is also derived from the three million; with the two million of this phase they would be 29.1% and 18.8%. A third ratio, a “1st drawdown LTV” of 34.95%, does not say on what amount: it is equivalent to around €2,400,000, a figure that matches neither this phase nor the total. And the platform's success fee, 4.75% plus VAT —€95,000—, and the mortgage arrangement costs are financed within the amount, so not all of it reaches the construction work. The funds are held in escrow and released by an external verification entity.

Non-sophisticated investors have a four-calendar-day pre-contractual reflection period to revoke their offer without penalty. This is crowdfunding, not a deposit or a guaranteed savings product: it carries a risk of illiquidity and of total or partial loss of principal, it is not supervised by the CNMV or the Bank of Spain and it is not covered by Directives 2014/49/EU and 97/9/EC. Investors may not recover the capital contributed.

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