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L'Atomique — Pierrelatte (26)
PB
La Première Brique Commercial real estate Financé
Ce projet est clôturé. L'analyse ci-dessous reflète les informations disponibles au moment de la souscription et n'a pas été mise à jour.

L'Atomique — Pierrelatte (26)

Average
60
score / 100
Yield
12.0%/yr
Duration
24 months
Min. ticket
1 €
Amount raised
729 k€
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À propos

Land portage operation of a 17,237 m² plot in Pierrelatte (Drôme), of which 9,595 m² under promise of sale to the municipality and 7,642 m² dedicated to future construction of 18 activity units. The 729,000€ loan finances land acquisition, with repayment expected thanks to partial sale to the municipality (83% of amount) and/or bank financing T3 2026. Operator: Philippe RIVES via ARCHIPEL GREEN FACTORY PIERRELATTE (Groupe Oria).

Plateforme · 18.5/25
A1 · Statut réglementaire 8.0/8✓ max

agrément AMF licence AMF fonds propres-2023-15 verified and in force

A2 · Track Record 4.5/6bon
  • Score adjusted thanks to live data: Default rate 0.0% (6 pts), delay rate >6 months 10.1% (4.5 pts), yield not disclosed
  • Weighted formula: (6×0.5 + 4.5×0.3 + 3×0.2) = 4.95
  • Rounded 4.5/6
A3 · Rigueur de sélection 2.0/4

Documented audits before publication but selection rate and detailed process not published

A4 · Santé financière 3.0/4bon
  • Score adjusted thanks to live data: Platform profitable (851K€ profit 2022), healthy growth (367M€ collected, 171K investors), >29 employees, offices in Lyon
  • Licenced agrément AMF 2023, thus <3 years licence but solid structure
A5 · Protection investisseurs 1.0/3faible
  • agrément AMF licence guarantees 4-day deadline + continuity plan (1 mandatory pt)
  • No mention of segregated accounts or secondary market in file
Projet · 41.0/75 (44.0 brut, red flags −3.0)
B1 · Instrument & Structure 8.0/10bon
B1.1: 5/5 - Remunerated participating loan French law clear
B1.2: 2/3 - Dedicated société dédiée (SPV) SASU (ARCHIPEL GREEN FACTORY PIERRELATTE), French law
B1.3: 1/2 - Trust pledge registered, priority ranking but no mortgage registered with registrar
B2 · Opérateur & Track record 10.0/15
B2.1: 4/4 - Philippe Rives and Stéphane Oria appointed, roles specified
B2.2: 4/5 - 4 similar operations documented, partial track record (fill rate 35-66%)
B2.3: 2/3 - Previous operation repaid on Bricks, 1st on La Première Brique
B2.4: 0/3 - ARCHIPEL GREEN FACTORY PIERRELATTE balance sheets absent; SASU capital 100€, financial data not provided
B3 · Garanties & Sûretés 10.0/15
B3.1: 8/9 - Trust pledge notarial deed + GAPD notarised holding (double protection)
B3.2: 1/4 - Holding ARCHIPEL GREEN FACTORY: capital not disclosed, financial position not verifiable
B3.3: 1/2 - Bank financing Q3 2026 mentioned but not confirmed, bank not named
B4 · Structure financière 8.0/15
B4.1: 2/5 - Loan-to-Value (ratio prêt/valeur actif) portage approx. 76% (729K/959K€ land cost); RE-COM range 70-80% = 2 pts
B4.2: 2/4 - Contribution 23.73% of land portage
B4.3: 2/4 - Municipality promise covers 83% of financed amount: structural stress test present but partial
B4.4: 2/2 - Overall operation target IRR 25% margin, well above 12% threshold
B5 · Pré-commercialisation 5.0/10
  • Score adjusted thanks to live data: Municipality promise of sale (604,500€) covers 83% of financed amount - rank 4 (unnotarised promise on acquisition side)
  • Overall pre-marketing 7% sales
  • Logistics/secondary activity market declining structurally 2026
B6 · Permis & Maturité 2.0/5faible
  • Land not yet executed at collection date (under promise of sale)
  • Building licence purged on 7,642 m² part, which values the land
  • Acquisition underway, not finalised
B7 · Marché & Localisation 1.0/3faible
  • Score adjusted thanks to live data: Pierrelatte = secondary market (Drôme), activity/logistics premises
  • Live data: logistics investment volumes -64% Q1 2026, vacancy up +25% in 18 months, secondary zone under pressure
  • Local market buoyant (Tricastin) but secondary segment uncertain
⚠ Alertes détectées · −3 pts déduits
Terrain pas encore acheté −3 pts

Land not yet executed at collection date (under promise of sale) - pure RE-MDB/land portage class

Points forts
✓Municipality promise of sale covers 83% of borrowed amount, strongly reducing repayment risk.
✓Notarised trust pledge + GAPD holding: solid double protection for land portage.
✓Building licence purged on residual part, valuing residual land.
✓Operator with 4 similar operations documented, one of which repaid.
✓Overall operation margin 25%, well above minimum thresholds.
Risques identifiés
!Land not yet executed: acquisition depends on finalisation of promise of sale.
!ARCHIPEL GREEN FACTORY PIERRELATTE balance sheets absent (SASU capital 100€), guarantor not financially evaluated.
!Logistics/secondary activity market in structural decline in 2026: vacancy +25%, volumes -64%.
!Bank financing Q3 2026 mentioned but not confirmed and bank not named.
!Rate 12%/year over 24 months: high yield for RE-COM class; verify that guarantees compensate.
Score card
Score card — L'Atomique — Pierrelatte (26)
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