À propos
Property trader operation concerning the acquisition of 17 parking spaces at 45 avenue du Général de Gaulle in Bagnolet (93) and their conversion into storage/warehousing boxes for retail resale. The operator VESTIMMO (holding IMMVESTONE), directed by Laurent ASSA and Pedro Lopes Mesquita, has approximately fifteen similar completed projects. The land acquisition was planned for end May 2026, ahead of marketing.
Plateforme · 19.0/25
A1 · Statut réglementaire
8.0/8✓ max
- Baltis holds the agrément AMF AMF licence (fonds propres-2023-19), currently valid in the AMF register
- Maximum applicable score
A2 · Track Record
3.0/6
- Platform statistics partially published
- Delay rate >90 days estimated at 15-25% (portfolio majority promotion immobilière, market 2023-2024 under pressure)
- No definitive default documented publicly to date
- Actual return versus announced return not officially confirmed
- Penalty applied for opacity of aggregated data
- Score adjusted for caution: default ~0% (4.5pts×0.5=2.25) + estimated delay 15-25% (3pts×0.3=0.90) + return N/C (0pts×0.2=0) = 3.15 → rounded 3/6
A3 · Rigueur de sélection
2.0/4
- Baltis mentions a selection process (committee, financial analysis) on its website but does not publish a quantified selection rate
- Process described without verifiable quantitative data
A4 · Santé financière
3.0/4bon
- Independent platform, operational since 2018, active fundraising in 2024-2025, no platform distress signal identified
- No listed institutional shareholder but existence >5 years and operational continuity confirmed
A5 · Protection investisseurs
3.0/3✓ max
- agrément AMF AMF licence → 4-day reflection period + mandatory continuity plan (1pt)
- Segregated account via third-party payment service provider (Mangopay, 1pt)
- No secondary market documented to date but collateral recovery mentioned in terms and conditions (1pt)
Projet · 40.0/75
(43.0 brut, red flags −3)
B1 · Instrument & Structure
9.0/10bon
B1.1: 5/5 - Simple obligation fixed rate, clear French law
B1.2: 3/3 - Dedicated société dédiée (SPV) VESTIMMO, distinct issuer, French law
B1.3: 1/2 - First rank mortgage claimed, registration in progress (acquisition end May 2026)
B2 · Opérateur & Track record
10.0/15
B2.1: 4/4 - Laurent ASSA and Pedro Lopes Mesquita appointed, Kbis attached, identifiable profiles
B2.2: 4/5 - approximately 15 property trader operations completed, 128 units, average margin 37%, >5 years of activity
B2.3: 1/3 - First documented operation on Baltis
B2.4: 1/3 - VESTIMMO share capital €10,000, balance sheet not provided, gearing not verifiable
B3 · Garanties & Sûretés
11.0/15
B3.1: 7/9 - First rank mortgage in process of registration (acquisition end May 2026) + notarised personal guarantee from managers
B3.2: 2/4 - IMMVESTONE holding, equity and gearing not provided, partial information
B3.3: 0/2 - No identified banking partner; amount <€2M, no RF2
B4 · Structure financière
7.0/15faible
B4.1: 4/5 - Loan-to-Value (ratio prêt/valeur actif) calculated approximately 43% (€283,700 / €657,700 estimated cost), Loan-to-Value (ratio prêt/valeur actif) 40-55%
B4.2: 0/4 - Operator equity €32,773, approximately 11.5% of amount raised; <15% self-financed
B4.3: 2/4 - Margin 44% provides significant buffer; no formal stress test but low Loan-to-Cost (ratio prêt/coût total)
B4.4: 1/2 - Net margin 44% turnover excellent but consolidated data absent
B5 · Pré-commercialisation
2.0/10faible
- No documented buyer commitment as at collection date; financing ahead of marketing
- Standard product (storage box) on buoyant market at gates of Paris
- Score 2/10 (no commitment, standard product, liquid market but without firm data)
B6 · Permis & Maturité
3.0/5
- Co-ownership syndicate authorisations obtained; land not yet acquired (acquisition planned end May 2026)
- Equivalent permit obtained, works not started
- RF6 triggered (land not acquired marchand de biens)
B7 · Marché & Localisation
1.0/3faible
- Score adjusted thanks to live data: declining market (-12% over 24 months, volumes -63.71%)
- Storage box niche more resilient than residential, but overall context unfavourable
- Secondary market stable: 1/3
⚠ Alertes détectées · −3 pts déduits
Terrain pas encore acheté
−3 pts
Land not yet acquired on RE-MDB operation (acquisition planned end May 2026) - land not yet acquired by notarial deed
Points forts
Specialist operator with approximately 15 completed operations and average margin 37% on storage box and parking niche
Double guarantee: first rank mortgage + notarised personal guarantees from both associates
Projected margin 44% of turnover provides significant cushion of safety
PSFP AMF Baltis licence, simple obligations French law, clear legal structure
Strategic location Bagnolet, proximity Paris 20th, strong demand for business storage boxes
Risques identifiés
Land not acquired as at collection date: acquisition planned end May 2026, transaction failure risk
No pre-marketing engaged: 100% financing ahead of sales, liquidity risk
Bagnolet real estate market in contraction: -12% price over 24 months, volumes -63.71% over 2 years
Operator equity contribution very limited (€32,773 on €283,700 raised), weak alignment of interests
VESTIMMO and IMMVESTONE holding balance sheets not provided, financial soundness of guarantor not verifiable
⚠ Avertissement sur les risques
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