IDB Invest and Habi announced on 3 March 2026 a structured credit line of up to USD 50 million for the proptech’s Colombian operation. It matters because the structure, with a committed tranche in pesos and an uncommitted tranche backed by commercial mortgage-backed securities (CMBS), is a replicable template for platforms holding residential inventory in the region, and because IDB Invest had already funded Habi in Mexico.
The transaction
The borrower is a trust vehicle established by Inversiones MCN S.A.S., Habi’s Colombian company, with IDB Invest as first beneficiary of the trust. The line consists of a committed tranche of up to USD 25 million disbursable in Colombian pesos and an uncommitted tranche of an equivalent amount, backed by CMBS. Four-year tenor with a 24-month availability period; mortgage collateral over the underlying homes. IDB Invest approved the deal on 12 December 2025, signed it on 11 February 2026 and announced it on 3 March. Cuatrecasas advised IDB Invest.
Use of proceeds is the purchase, renovation and resale of pre-owned homes in urban areas of Colombia, with a focus on low- and middle-income families, and includes an alternative scoring model aimed at women and young people, along with environmental, social and corporate governance action plans. The precedent is a USD 15 million asset-backed revolving line that IDB Invest granted to Habi Mexico between 2022 and 2023.
Value drivers
A trust as ring-fencing. The borrower is not the operating company but a trust vehicle with the lender as first beneficiary. In our reading, separating the financed inventory from Habi’s corporate risk is what allows a four-year tenor at a multilateral’s cost.
Committed and optional tranches. Committing USD 25 million and leaving another USD 25 million uncommitted gives Habi growth capacity without paying for availability on the full amount; for IDB Invest, in our reading, the second tranche activates on verified performance.
A CMBS exit. Backing the uncommitted tranche with mortgage-backed securities anticipates a refinancing route through the Colombian capital market; in our reading, it is the signal that Habi’s portfolio is considered securitisable.
A track record with the same lender. The USD 15 million line in Mexico served as the test. Repeating with a lender that already knows the asset tape shortens due diligence and lowers structuring cost.
An impact mandate. Alternative scoring for women and young people and the environmental, social and governance action plans are conditions that open a multilateral’s balance sheet and that a commercial bank would not require; in our reading, they are part of the price of that funding.
What the market is signalling
For Mexico, the direct reading is that IDB Invest already tested the structure with Habi Mexico and is now scaling it in Colombia with a CMBS tranche. Mexican comparables holding residential inventory, rent-to-own portfolios or non-bank mortgage books have a template: trust vehicle, committed tranche in local currency, optional tranche linked to securitisation.
For lenders, the deal confirms that multilaterals accept mortgage collateral over rotating inventory, not only over loan portfolios. For founders, it indicates that impact and governance conditions are negotiable and form part of the effective cost of a line of this kind.
G2’s reading for a mandate
A structured financing mandate for a platform holding residential inventory in Mexico is prepared by setting up the trust vehicle before the competitive process, with the asset tape, turnover by city and losses per unit documented for two lenders in parallel: a multilateral for the committed tranche and a local arranger for the securitisation exit. In our reading, the 24-month availability period must match the inventory purchase plan, not the calendar of an equity round.
Sources
- IDB Invest, project sheet: Habi Structured Line of Credit Colombia
- IDB Invest, 3 March 2026: IDB Invest and Habi Drive Housing Access in Colombia
- Cuatrecasas, 19 March 2026: IDB Invest approves credit line for Habi of up to USD 50 million for real estate transactions