Pre-opening | Wecity Opens the €750,000 Phase III to Refurbish a 20-Loft Building on Juan de Olías (Madrid)

22/09/2026 – ⏱ 3 min

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

The crowdfunding platform Wecity, authorised by the CNMV under registration number 9, is preparing Phase III of the loan to Iberia Viva Capital, S.L.U. to continue refurbishing a building at Calle Juan de Olías, 21, in Madrid, where 20 lofts and one home will be created. It should be remembered that any reference to return is inseparable from the corresponding risk, which is set out below.

This phase amounts to €750,000, within a total loan of €2,750,000 split into three phases. The rate is fixed at 11.50% per annum, with an 11-month term maturing on 17 August 2027, extendable by six months, and interest paid at maturity. The platform puts the total return at 10.54% for those 11 months; this estimate is subject to investment risk and is not guaranteed. The minimum investment is €500, which is also the maximum during the first ten minutes. The platform's internal rating is A. No opening date is stated.

Asset description, construction progress and sales traction

The mixed-use building has 1,222.11 sqm of buildable area. The works have held a licence since September 2025 and are 73.04% complete according to the latest certificate from the site management. The developer has contributed €1,544,468.66 of its own funds to buy the property and start the works. It is run by architects Thomas Bolzen and José Javier Galindo Carbajo, with more than 25 years in real estate development and management, who cite two recent buy-and-sell operations in Madrid.

The project has no sales because it is not designed to be sold: the developer intends to keep the building and let it. Repayment of the loan therefore does not depend on selling the homes, but on obtaining bank financing once the asset starts generating rent. That refinancing is not committed in the documentation.

Financial structure, coverage ratios and security

The security is a first-ranking mortgage over the building. Tinsa values it at €3,315,451.23 in its current state and €5,661,824.05 once completed. The first-drawdown LTV is 67.28% of current value, and the 48.57% LTV corresponds to the total €2,750,000 loan against the completed-works value, although the fact sheet attributes it to this €750,000 phase. An external security agent manages the security — the fact sheet mistakenly refers to a "pledge" — funds are held in a Lemonway escrow account and an external company verifies each drawdown. Wecity charges the developer 4.25% plus VAT if the campaign is completed.

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

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Realty Investor

Your real estate crowdfunding, in one app.

Discover new opportunities. Invest through leading platforms. Manage your whole property portfolio from a single place.

The Realty Investor beta is now available. Explore the market, discover new projects and get to know the platform with simulated money, without putting in any capital.

Download the beta and start discovering a new way to manage your real estate investments.