Suresnes - Résidentiel et commerce à deux pas de La Défense — 9%/an · 18 mois

Plateforme · 19.0/25

A1 · Statut réglementaire 8.0/8✓ max

agrément AMF licence in valid force, fonds propres-2023-8 licence
Maximum applicable score

A2 · Track Record 5.0/6bon

Default 0% → 6/6
Delay 5.38% (threshold 5-15%) → 4.5/6
Net return 7.78% vs 10% announced, gap 2.22pp below lower bound → 1.5/6
Weighted score: (6×0.5)+(4.5×0.3)+(1.5×0.2)=4.65 → rounded 5

A3 · Rigueur de sélection 2.0/4

Selection process not detailed publicly, selection rate not published
Implicit mention of a process via agrément AMF licence
Score 2/4

A4 · Santé financière 2.0/4

Independent platform in strong growth (141M€, no.1 FR 2025)
Forced stoppage 7 months (Dec 2022-Jul 2023) and registre ORIAS deletion resolved
No identified institutional shareholder
Viability confirmed but regulatory history weighs
Score 2/4

A5 · Protection investisseurs 2.0/3

agrément AMF licenced → mandatory reflection period 4 days + Capsens continuity plan documented → 1 pt
Segregated accounts legally mandatory under agrément AMF → 1 pt
Secondary market not mentioned → 0 pt

Projet · 44.0/75

B1 · Instrument & Structure 8.0/10bon

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

B1.2: 2/3 - Direct loan operator Ancrage 1, well documented

B1.3: 1/2 - First-ranking mortgage mentioned but registration not yet formalised as at file date

B2 · Opérateur & Track record 8.0/15

B2.1: 4/4 - Two managers appointed, functions specified, identifiable

B2.2: 2/5 - 20+ operations claimed, 3000m², but none delivered with documented third-party evidence

B2.3: 1/3 - First operation on Bricks, reputation not verified elsewhere

B2.4: 1/3 - Share capital 100€, balance sheet not available, gearing unknown

B3 · Garanties & Sûretés 9.0/15

B3.1: 7/9 - First-ranking mortgage in course of registration (deed signed, formality in progress)

B3.2: 1/4 - Joint and several guarantee under electronic private deed, capital 100€, patrimony not assessed

B3.3: 1/2 - No banking partner named, project <€2M not applicable for RF2 but 0 pts bank

B4 · Structure financière 11.0/15

B4.1: 4/5 - Loan-to-Value (ratio prêt/valeur actif) 65.7% on marchand de biens (threshold 55-65% = 3pts, 40-55%=4pts) → 3pts

B4.2: 2/4 - Contribution 500k€ / total ~5.6M€ ≈ 9%, between 15-25% → 1pt

B4.3: 3/4 - Loan-to-Value (ratio prêt/valeur actif) 65.7% moderate, margin 19.5% provides reasonable buffer

B4.4: 2/2 - Projected net margin 19.5% > 15% on marchand de biens

B5 · Pré-commercialisation 3.0/10faible

Several identified offers mentioned but no formalised written commitment
Marketing via CGP initiated
Liquid Ile-de-France market but no signed undertaking
Score 3/10 - one interest confirmed in writing partial

B6 · Permis & Maturité 3.0/5

Land actioned not confirmed in file (acquisition in progress), works not started. marchand de biens operation with targeted works permit
Score 3/5 - land actioned + works not started presumed on file basis

B7 · Marché & Localisation 2.0/3

Suresnes, first ring Paris, established market
Proximity to La Défense, strong rental potential
Solvent demand on return
Stable Ile-de-France market 2025
Score 2/3

Points forts

✓First-ranking mortgage on entire property complex of 33 units, Suresnes.

✓Projected margin 19.5% on RE-MDB operation in first ring.

✓LTV 65.7% moderate with equity contribution 500k€.

✓Two managers identified, claimed experience Hauts-de-Seine.

✓Location Suresnes close to La Défense, tight Ile-de-France rental market.

Risques identifiés

!⚠ CROWDREVOLT: Project in distress for 29+ months, monthly coupons suspended.

!Extension of term without consultation of bondholders documented.

!Share capital 100€, Ancrage 1 balance sheet not available, guarantor solidity not verifiable.

!Joint and several guarantee under electronic private deed only, not notarised.

!First operation on Bricks, operator track record not verifiable via third party.

⚠ Avertissement sur les risques

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