The Opportunity

Tenerife attracts millions of visitors every year, while the supply of rental housing on the island remains limited. At the same time, European rules on building energy performance are setting higher standards for older residential properties. Residencia Tejina takes an existing building in the south-west of the island through a complete technical, energy and interior renovation. The aim is to return it to the market as modern, rental-ready housing that meets current comfort and efficiency expectations. Participation is offered through tokenized ownership linked exclusively to the economic results of this single project, covering rental income and, where applicable, proceeds from the sale of the renovated units.

Asset Overview

Property Specifications

- Address: Calle Nicaragua 9, 38685 Tejina de Isora, Santa Cruz de Tenerife - Gross area: approximately 450 m² across four levels - Current registered use: three residential units (basement, first floor, second floor) and one commercial unit (ground floor) - Planned configuration: four residential units, including conversion of the ground-floor commercial unit - Ownership: 100% Doc Energy Skill S.L.; Land Registry of Guía de Isora

Building works

- Structural refurbishment, including the load-bearing structure - Building envelope upgrade - Full replacement of electrical, plumbing and thermal installations - Home automation and smart-building systems - Energy and urban-planning certifications and safety compliance

Design & Interiors

- Interior concept that combines Nordic lines with Mediterranean accents - Warm, neutral palette: beige, sand, taupe and pearl grey - Natural stone and marble surfaces in kitchens and bathrooms - Open-plan living and kitchen areas with a central stone island

Investment Terms**

Participation Terms

- No shareholder, voting or general-meeting rights - Participants bear losses up to the amount contributed. - Manager remuneration: 50% of net profit, deducted before distribution - Distributions: annual, pro rata to tokens held - Reporting: quarterly balance sheet and income statement - Term: approximately 5 years (expected smart contract duration); contractual maximum: 10 years - Contributions are non-refundable unless the soft cap of the active round is not reached.

Eligibility

Identity verification (KYC) required

Liquidity

- Participations are not tradable on organised markets. - A transfer requires the manager's prior consent and the assignee passing KYC.

Revenue Model

Rental Income

Medium- and long-term residential lettings once the works are complete

Sale Proceeds

Sale of the renovated units at the end of the contract, where applicable

Why This Market

Tourism Demand

Tenerife is the archipelago's largest island by tourist arrivals.

Regional Economy

BBVA Research projects regional GDP growth of 3.4% in 2025 and 1.7% in 2026. It also identifies the lack of investment, particularly in housing, as a bottleneck to growth.

Rental Housing Supply

On average, each listed rental home received 135 enquiries within its first ten days on the market.

Regulatory Driver: Building Energy Supplier

- Under the recast EPBD (EU 2024/1275), member states must cut average primary energy use in residential buildings by 16% by 2030 and by 20–22% by 2035. - At least 55% of that reduction must come from renovating the worst-performing buildings. - According to the European Commission, 85% of EU buildings were built before 2000, and 75% have poor energy performance.

Location

- Guía de Isora is a municipality in south-west Tenerife, between Adeje and Santiago del Teide, with 15 km of coastline. - Tejina is one of its inland villages, at the foot of Montaña de Tejina (1,055 m). - Coastal settlements within the municipality include Playa San Juan and Alcalá. - Tenerife South airport is approximately 35 km away.

How the Model Works

Acquire

The promoter selects existing buildings with renovation potential in high-demand locations, then buys and registers them directly. Each property runs as a standalone project with its own renovation plan, economics and exit strategy.

Transform

The renovation follows the promoter's Doc Energy® Method: technical and energy audit, comparison of renovation scenarios, building and systems design, financial assessment, review of available incentives, execution, and final performance verification.

Project Delivery Structure

- Management and technical direction: Matteo Montagner and Christian Bernardoni - Engineering and specialist support: Montagner Energia S.r.l. team in Italy - Local architecture, planning, permits and administrative procedures: selected professionals in Tenerife - On-site works: specialised contractors and suppliers based in the Canary Islands - Doc Energy Skill selects all parties, defines their scope, monitors progress and may reorganise or replace contractors where required

Operate and Exit

After completion, the units are let. At the end of the contract, the renovated units may be sold.

Promoter Track Record

The promoter reports more than 100 residential renovation projects and more than 100 photovoltaic and energy-efficiency installations completed between 2020 and 2025.

Use of Funds

- Renovation works and building installations - Furnishing and fit-out ready for letting - Certifications (energy, urban planning, safety) - Technical and legal structuring - Ongoing management costs

Participation Lifecycle

- Onboarding: identity verification and electronic signing of the agreements through the issuer portal - Issuance: TEJ tokens are issued on demand as contributions are received, in successive funding rounds - Monitoring: participants see their tokens, transaction history, income, deducted expenses, profit calculation and distributions in a personal dashboard on the portal

Legal Structure

Contract Type

- Cuentas en participación (joint venture account), governed by Articles 239–243 of the Spanish Commercial Code - A commercial collaboration agreement: participants contribute funds to a manager (Doc Energy Skill S.L.) and share in the results of a specific operation - No separate legal entity is created.

Regulatory Classification

- Not a financial instrument or transferable security under Article 2.1 of Law 6/2023 (LMVSI) - Not a public offering of securities under Article 35 LMVSI; no CNMV-approved prospectus is required. - The operation is not supervised by the CNMV or any other financial authority.

Governing Documents

- Joint Venture Account Agreement: sets out the relationship between the manager and participants, including their rights and obligations - Subscription Agreement: covers entry into the contract, token allocation and digital validation of participation Both are accepted electronically after KYC and are valid under the Spanish Commercial and Civil Codes.

Liability and Custody

The manager is solely liable to third parties (Article 242, Spanish Commercial Code). Participants hold their tokens in self-custody wallets; the manager provides no crypto-asset custody.

The Team

Matteo Montagner

- Industrial technician specialising in thermotechnics; certified Energy Management Expert (UNI CEI 11339) - His role has evolved from technical specialist to entrepreneur and project leader. - At Doc Energy Skill, he identifies each property's potential, defines the transformation strategy and coordinates all parties from concept to completion.

Christian Bernardoni

- Background in building performance, energy systems and acoustics; qualified acoustics technician - At Doc Energy Skill, he analyses existing buildings and their constraints, compares renovation scenarios and turns the selected strategy into coordinated technical solutions. - On Residencia Tejina, he aligns layout, building systems, energy performance and comfort within a single project.

Shared Background

Have worked together for around a decade; co-founded Montagner Energia S.r.l. in Italy in 2019, bringing technical assessment, design, energy efficiency and execution into a single process.

Platform Profile

Doc Energy

Doc Energy develops real estate operations in the Canary Islands through Doc Energy Skill S.L., a company established in Tenerife in 2024. It selects and acquires existing buildings, redefines their use and manages their transformation, combining technical renovation with an economic plan for each property. The company was founded by Matteo Montagner and builds on the Doc Energy® Method, developed through its Italian parent company Montagner Energia S.r.l. Participation in each project is offered through the company's own portal, built on Brickken tokenization infrastructure. *Target only. Not a guaranteed or promised return **All figures, percentages, and returns shown in the infographics are targets only and are not guaranteed.