À propos
Acquisition and division of a 101.5 m² apartment at 17 rue Nationale in Évian-les-Bains (74) into 4 properties (3 studios and 1 two-bedroom) to be sold in off-plan, operator Smart House Immobilier. Well located facing Lake Léman, 74% of turnover pre-sold via signed agreements. Works scheduled early 2027, duration 18 months, in fine bond.
Plateforme · 16.0/25
A1 · Statut réglementaire
8.0/8✓ max
- agrément AMF licence AMF fonds propres-2023-33 currently valid
- Maximum regulatory status confirmed
A2 · Track Record
3.0/6
- Score adjusted thanks to live data: default 0.89% → 6pts×0.5=3.0; delay 27.54% (live) → 3pts×0.3=0.9; yield N/A → 0pts×0.2=0.0; base=3.9
- Reduction −0.9 for 26 documented CrowdRevolt projects
- Final: 3/6
A3 · Rigueur de sélection
2.0/4
- Selection process mentioned (1,160+ projects since 2008) without published rate or verifiable committee detail
- High delay rate suggests insufficient selection
A4 · Santé financière
1.0/4faible
- Accelerated receivership (Oct
- 2025), procedure closed 11/12/2025, acquisition by Advenis validated
- Stability under new owner <12 months → 1 pt (post-recent acquisition rule)
A5 · Protection investisseurs
2.0/3
- agrément AMF licensed → 1 pt minimum legal obligation (reflection period + continuity plan)
- Segregated accounts via documented third-party payment service provider → +1 pt
- No operational secondary market identified
Projet · 46.0/75
B1 · Instrument & Structure
8.0/10bon
B1.1: 5/5 - Simple bond fixed rate French law
B1.2: 2/3 - Direct operator borrowing, well documented French law
B1.3: 1/2 - Simple bond, no known senior debt, de facto 1st rank not formally registered
B2 · Opérateur & Track record
6.0/15faible
B2.1: 2/4 - Manager appointed implicitly (personal guarantee), no identifiable public profile
B2.2: 2/5 - Property trader operator, undocumented history in file
B2.3: 1/3 - 1st transaction on WiSEED, reputation not verified
B2.4: 1/3 - No procedure identified but accounts not provided
B3 · Garanties & Sûretés
10.0/15
B3.1: 7/9 - 1st rank mortgage in process of registration (file mention, registration not confirmed)
B3.2: 2/4 - Personal guarantee from manager with no documented assets, guarantor not assessed
B3.3: 1/2 - No identified banking partner; project <€2M, no RF2
B4 · Structure financière
11.0/15
B4.1: 4/5 - Loan-to-Value (ratio prêt/valeur actif) 48%, property trader Loan-to-Value (ratio prêt/valeur actif) 40-55% → 4 pts
B4.2: 3/4 - Financing plan not detailed; Loan-to-Value (ratio prêt/valeur actif) 48% implies ~52% self-financed/other → 3 pts estimated
B4.3: 3/4 - Very low Loan-to-Value (ratio prêt/valeur actif) (<50%) structurally compensates without documented stress test
B4.4: 1/2 - Margin not explicitly communicated; exit price ~5,750€/m² vs market 4,820€/m² average, estimated margin moderate
B5 · Pré-commercialisation
8.0/10bon
- 74% of turnover secured under signed agreements (3/4 properties)
- Remaining studio free at 150,000€. >50% under agreement → 8 pts per property trader grid
B6 · Permis & Maturité
3.0/5
- Land acquired (identified asset, Loan-to-Value (ratio prêt/valeur actif) calculated)
- Works not started, scheduled early 2027
- Building permit not mentioned as obtained
- Property trader land actioned plus works not started → 3 pts
B7 · Marché & Localisation
0.0/3faible
- Score adjusted with live data: documented market decline (−3.64% price, −70.55% transaction volume 2022-2024)
- Projected exit prices 5,750€/m² vs current market 4,820€/m² average - above recent comparables. → 0 pt
Points forts
Moderate LTV of 48% with 1st rank mortgage on real estate asset
74% of projected turnover secured via three signed agreements
Central location in Évian-les-Bains, cross-border access to Switzerland
Simple bond French law, clear legal structure
Minimum ticket accessible from €100, liquid instrument in fine
Risques identifiés
Market in marked decline: −70.55% transaction volume 2022-2024, prices down 3.64%
Projected exit prices 5,750€/m² significantly above current market (4,820€/m²)
Operator Smart House Immobilier: undocumented history, no verifiable track record
GFA not yet obtained - condition precedent to fund disbursement
Works not started (early 2027), calendar drift risk over 18 month horizon
⚠ 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.