Maison Blanche — 10.5%/an · 18 mois

Plateforme · 15.5/25

A1 · Statut réglementaire 8.0/8✓ max

agrément AMF licence AMF currently valid → maximum score

A2 · Track Record 0.5/6faible

Default 17.76% (>15%) → 0/6
Delay >90 days estimated >33% (>1/3 capital blocked >6 months) → 1.5/6
Actual yield vs announced N/A → 0/6
A2 = (0×0.5 + 1.5×0.3 + 0×0.2) = 0.45 ≈ 0.5

A3 · Rigueur de sélection 2.0/4

458 projects financed since 2015, selection process not detailed publicly
Implicit mention of a filter with no published rate

A4 · Santé financière 3.0/4bon

Subsidiary of Atland group (4 bn€ AUM), solid institutional
Degraded portfolio (new real estate crisis 2022-2023) but no signal of platform default itself

A5 · Protection investisseurs 2.0/3

agrément AMF licenced → reflection period + continuity plan mandatory (1 pt)
Segregated accounts probable via third party PSP (1 pt)
Secondary market not documented (0 pt)

Projet · 45.0/75

B1 · Instrument & Structure 7.0/10

B1.1: 5/5 - Simple obligation fixed rate, French law

B1.2: 2/3 - Issuance by the holding, not by a dedicated société dédiée (SPV)

B1.3: 0/2 - Structurally subordinated to the SCCV's bank loan

B2 · Opérateur & Track record 7.0/15faible

B2.1: 2/4 - Thomas Pouget, President, unverified public profile

B2.2: 2/5 - Delivered operations not quantified, group fonds propres <5M€

B2.3: 2/3 - 2 repayments, 2 partial, platforms not specified

B2.4: 1/3 - Holding in deficit, register search not conducted

B3 · Garanties & Sûretés 8.0/15

B3.1: 5/9 - Notarised guarantee from Loftwood Promotion and assignment of receivable

B3.2: 1/4 - Guarantor fonds propres 1.1M€, gearing greater than 2

B3.3: 2/2 - Crédit Agricole Charente-Périgord, 1.25M€ granted

B4 · Structure financière 7.0/15faible

B4.1: 5/5 - Loan-to-Cost (ratio prêt/coût total) crowd ~4.6% of construction cost

B4.2: 0/4 - Operator equity ~1% of total cost

B4.3: 2/4 - No stress test, Loan-to-Cost (ratio prêt/coût total) very low

B4.4: 0/2 - Net margin 6.8% of turnover net of tax

B5 · Pré-commercialisation 10.0/10✓ max

100% sold in off-plan block to Domofrance by notarial deed of 29/09/2025, firm price of 8.08M€ including tax

B6 · Permis & Maturité 5.0/5✓ max

Land title executed on 31/07/2025, building permit perfected (administrative court and municipality), works orders issued on 02/03/2026

B7 · Marché & Localisation 1.0/3faible

Sarlat, medium-sized town
Market trend not documented
Exit risk neutralised by block sale

Points forts

✓Programme 100% sold by notarial deed to Domofrance, firm price.

✓Permit perfected, land acquired, Crédit Agricole GFA and works commenced.

✓Bank cofinancing from Crédit Agricole identified at 1.25M€.

✓Notarised loan agreement and notarised guarantee from Loftwood Promotion.

✓Crowdfunding amount very low relative to construction cost (~4.6%).

Risques identifiés

!Inconsistent documents: zero coupon vs fixed rate, guarantee vs GAPD.

!Issuing holding in loss (−137 K€), equity of 447 K€.

!Obligation structurally subordinated to the SCCV's bank debt.

!Net margin of 6.8% only, sensitive to works cost overruns.

!CrowdRevolt verification and register search not performed; group crowdfunding outstanding 2.44M€.

⚠ Avertissement sur les risques

Investir en crowdfunding comporte un risque de perte partielle ou totale du capital, ainsi qu'un risque d'illiquidité. Selon le baromètre France FinTech / Forvis Mazars 2025, 25 à 30 % des projets accusent un retard de plus de 6 mois et 4 à 6 % entraînent une perte définitive. Ne placez jamais plus de 5 à 10 % de votre patrimoine en crowdfunding et diversifiez sur au moins 10 projets. CrowdPickr est un service d'information indépendant, non agréé en tant que conseiller en investissement. Les analyses présentées ne constituent pas un conseil en investissement personnalisé.