R001 Apartment in Girona Repayment
We have completed another successful repayment on Indemo, continuing our track record of mortgage NPL-backed recoveries.
This marks the 19th Debt Repayment in Indemo’s debt portfolio and the fourth repayment of 2026, reinforcing the reliability of our Discounted Debt model and the performance it continues to deliver to our investor community.
This is also a landmark case for the Indemo community. Listed on the platform at an early stage of foreclosure, the asset has now completed the full recovery lifecycle, ending with a successful auction sale. The full asset lifecycle took 2 years and 3 months, ultimately delivering investor returns significantly above the target level.
This time, €340,702 in principal and interest was repaid to investors from R001: Apartment in Palafrugell, Girona. This repayment affected the portfolios of 1,046 investors, representing 9.3% of all active Notes on the platform.
The annual average weighted ROI for this repayment reached 21.10% per annum, with individual annual returns ranging from 20% to 30% per annum, depending on when each investment was made.
Spotlight on the repaid debt: R001 Apartment in Palafrugell, Girona 🔦
At Indemo, every Discounted Debt investment is secured by real residential property in Spain. R001 was backed by an apartment in Palafrugell, Girona, providing tangible collateral behind the recovery strategy.
R001 was first listed on 16 February 2024 at Step 3, Claim Acceptance, and it reached repayment at Step 16, Claiming Court-Ordered Payment, representing meaningful, end-to-end execution across the full enforcement path.
Key figures 📊
Repayment details
- Repayment date: 6 May 2026
- Repayment amount: €340,702 (Principal + Interest)
- Annual average weighted ROI: 21.10% p.a.
- Annual return range: 19.99% to 29.99% p.a.
Investor impact
- Investors affected: 1,046
- Percentage of all active Notes affected: 9.3%
Flow and exit
- Flow stage at listing: Step 3, Claim Acceptance
- Flow stage at repayment: Step 16, Claiming Court-Ordered Payment
- Exit scenario: Sale at the foreclosure auction
Recovery (exit) scenario 💼
R001 was featured in Discounted Debts: Behind the Flow Chapter 2, which reflects progress for cases that surpassed the 24-month target recovery timeline. We shared the most important milestone: the auction was successfully completed in November 2025, and the highest bidder won. The purchaser then deposited funds with the court on 23 February 2026, which the court administration transferred to the servicing company on April 29, 2026.
A major driver behind the strong return in this case was the increase in the outstanding claim amount during the recovery period. Over two years, the debt amount increased from €340,511 to €455,579, while the initial investment price was set at €236,000 and the underlying property had an appraised value of €480,000. This created a favourable recovery position for investors, as the higher claim amount allowed the creditor to rely on a larger recoverable claim during the auction process.
The asset ultimately attracted a winning auction bid of €451,796. After deducting first-priority obligations, court-related costs, and the servicing company’s profit share, the remaining proceeds were distributed to Indemo investors, resulting in returns significantly above the target level.
This case study highlights why investors should consider a full set of metrics and factors when investing in Discounted Debt products on Indemo. Changes in the outstanding debt amount and real estate value over time, investment discount, recoverable value limits, legal stage, and expected exit route can all have a significant impact on the final recovery outcome. It also demonstrates the importance of a flexible recovery strategy, allowing the servicing company to pursue the most favourable route for investors — whether through legal foreclosure, out-of-court settlement, or sale to institutional investors on the secondary market.
This case repayment also completed the full repayment cycle of two 8-debt-backed Notes, with ISINs LV0000803070 and LV0000803104.
Timing and investor returns
Indemo’s target investment horizon is often referenced as 24 months, but discounted, mortgage-backed assets recovery time can vary depending on court timelines and procedural requirements.
In R001, the case completed the full cycle in roughly 26 months. Despite moving through the full enforcement path, it still delivered a strong result for investors, with an annual average weighted ROI of 21.10% p.a., exceeding our target return level.
With the 19th repayment now completed, Indemo continues to demonstrate the resilience and consistency of its recovery pipeline. Each successful repayment not only reinforces investor confidence but also showcases the reliability of our real-estate-secured investment model.
Below is a recap of all 19 repayments.
Coming Soon
A Note on Returns 💡
As with all Indemo Discounted Debt investments, actual returns depend on when you entered the investment, determined by the issue date of your Note.
To check your individual ROI from this repayment, head over to the Portfolio section of your Indemo account. For broader insights, check out the Analytics dashboard.
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This content is a marketing communication. It shall not be treated as investment advice, independent research or offer, recommendation or invitation to invest in the investment opportunities referred to herein. The content is not aimed at promoting services or products to persons based in jurisdictions where the distribution of said information would be illegal.
Investing in financial instruments involves risk, and there’s no guarantee that investors will get back invested capital. Moreover, past performance does not guarantee future returns. Indemo SIA shall not be responsible for any direct or indirect loss from using the provided information.