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.

Le Chateaudun

Average

score / 100

Yield

11.5%/yr

Duration

30 months

Min. ticket

1 €

Amount raised

880 k€

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À propos

Acquisition and transformation of a 2-star hotel with bar and restaurant in Chateaudun (Eure-et-Loir) into a 3-star establishment by operator REV Hotel (manager Djamel Atoui). Renovation works planned over 3 months, repositioning in social accommodation residence. Repayment provided for via operating profits or bank refinancing after obtaining first accounts.

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 · 45.0/75 (50.0 brut, red flags −5)

B1 · Instrument & Structure 8.0/10bon

B1.1: 5/5 - Simple obligation participating loan French law

B1.2: 3/3 - Dedicated société dédiée (SPV) CHATEAUDUN RESIDENCE, RCS Chartres, clear French law

B1.3: 0/2 - Unsecured obligation, rank indeterminate against other undocumented creditors

B2 · Opérateur & Track record 11.0/15

B2.1: 4/4 - Manager Djamel Atoui appointed, identifiable

B2.2: 4/5 - Operator already operates REV HOTEL (turnover €1.5M, net result €208K 2024), similar model

B2.3: 0/3 - First operation on this platform without verified track record

B2.4: 3/3 - No collective insolvency proceedings identified, REV HOTEL financial statements sound

B3 · Garanties & Sûretés 11.0/15

B3.1: 8/9 - Trust over securities of borrowing company (notarial deed pending) + GAPD REV HOTEL 1.056M€ + pledge of business goodwill

B3.2: 3/4 - REV HOTEL fonds propres 485K€, gearing 1.54, sound situation but fonds propres <5M€

B3.3: 0/2 - No bank credit on 880K€ project

B4 · Structure financière 9.0/15

B4.1: 0/5 - Loan-to-Cost (ratio prêt/coût total) 85% (loan 880K€ / total cost 1.188M€), high threshold close to 85% limit

B4.2: 4/4 - Contribution 308K€ represents 25.95% of total cost

B4.3: 3/4 - Scenario −30% revenue maintains positive cash-flow per forecast (REX 2028: 607K€)

B4.4: 2/2 - Operating margin forecast 40%, taux de couverture de la dette 2028 comfortable post-operation

B5 · Pré-commercialisation 5.0/10

5/10 - Business goodwill under signed promise dated 24/03/2026, existing operation to be repositioned in social accommodation (proven REV HOTEL model +172% revenue post-repositioning)
No rental contract signed, success depends on commercial repositioning

B6 · Permis & Maturité 4.0/5bon

4/5 - Business goodwill under signed promise, existing asset, refresh works without required permits
Acquisition not yet completed at filing date

B7 · Marché & Localisation 2.0/3

Score adjusted thanks to live data: 2/3 - Chateaudun hotel market: average nightly rate 65-75€, professional/transit demand, low competitive supply
Established regional market, defensive positioning via social accommodation
France macroeconomic context moderate (0.8% GDP 2026)

⚠ Alertes détectées · −5 pts déduits

Pas de financement bancaire −5 pts

No bank credit on 880K€ project - absence of bank partner external validation

Points forts

✓Experienced operator: REV HOTEL generates 1.5M€ revenue, 208K€ net profit 2024, proven model

✓Trust over securities + GAPD REV HOTEL 1.056M€ + pledge of business goodwill, multiple coverage

✓Own contribution 26% of total cost, significant financial commitment by operator

✓Operating forecast 40% margin, revenue 1.008M€ (2028), social accommodation repositioning documented

✓Business goodwill under signed promise, existing asset, 3-month works without complex permit

Risques identifiés

!LTC 85% close to regulatory limit, low safety cushion in case of cost overrun

!Absence of bank credit on 880K€ project, missing external validation (RF2 −5 pts)

!Yield 11.5%/year high for hotel operation, gap with RE-COM norm 6-12%

!First operation on La Première Brique, no verified repayment history on platform

!Success depends on hotel social repositioning, model not specifically tested in Chateaudun

!Operator cash flow negative 9 first months (REX −741K€), dependence on sequester interest

!Business goodwill not yet completed, promise signed 24/03/2026 but ownership transfer not finalised

!Unsecured obligation indeterminate rank, position against future creditors not documented

!Rural Chateaudun hotel market, transit/professional clientele sensitive to economic cycles

!Forecast RevPAR 73.7€ not documented by verifiable local comparables

⚠ Avertissement sur les risques

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