Mas Provence — Bonnieux, Luberon — 8%/an · 24 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 · 42.0/75

B1 · Instrument & Structure 8.0/10bon

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

B1.2: 2/3 - société dédiée (SPV) CCW-FR dedicated, SASU capital €1, clear French law but opacity on cross-border contribution

B1.3: 1/2 - First-ranking mortgage claimed, conditional registration subject to universal contribution not yet realised

B2 · Opérateur & Track record 5.0/15faible

B2.1: 2/4 - Valérie Sieuw appointed, Justin Appart co-founder cited, no verified LinkedIn profile

B2.2: 1/5 - First structured operation, adjacent experience (restoration/events/sports clubs)

B2.3: 0/3 - No Bricks history or other platform

B2.4: 2/3 - CCW-FR recently created, no accounts available, no proceeding identified

B3 · Garanties & Sûretés 11.0/15

B3.1: 7/9 - First-ranking mortgage in course of registration (conditional on cross-border asset contribution)

B3.2: 1/4 - CCW-FR capital €1, no accounts, guarantor poorly evaluated financially

B3.3: 0/2 - No identified banking partner, amount <€2M (not RF2)

B4 · Structure financière 12.0/15bon

B4.1: 5/5 - Loan-to-Value (ratio prêt/valeur actif) 17.4% on asset value €2.5M, very low

B4.2: 4/4 - Equity contribution 83% of total cost (€2.5M/€3.02M), exceeds 20%

B4.3: 2/4 - Stress test absent, Loan-to-Value (ratio prêt/valeur actif) <30% structurally compensates

B4.4: 1/2 - Target IRR not specified, projected rental income (€113K result) between 8-12%

B5 · Pré-commercialisation 2.0/10faible

RE-COM: no lease signed, no LOI, seasonal rental exploitation strategy not contractualised
Partial market study, plausible high-end Luberon positioning but no firm commitment
Score 2/10

B6 · Permis & Maturité 2.0/5faible

RE-COM: acquisition not yet realised (cross-border asset contribution in progress, prior conditional notarial deed)
Under firm undertaking via Belgian structure SIMAJUVASTA.LUNE SA
Score 2/5

B7 · Marché & Localisation 2.0/3

Bonnieux, heart of UNESCO Luberon, premium PACA market (€4,180/m² region), established high-end tourism demand
Market stable post-2023-2024 correction
High-end hospitality/gîte segment promising
Score 2/3

Points forts

✓Exceptional LTV at 17.4%, fundraising represents less than one-fifth of asset value

✓First-ranking mortgage registered for €627,600 on cadastrally identified domain

✓Escrow €96,232 covering 24 months of interest, immediate protection of bondholders

✓Luberon UNESCO location, premium tourism market with international clientele

✓Equity contribution 83% of total cost, crowdfunding exposure very limited

Risques identifiés

!CCW-FR recently created, share capital €1, no accounts available, financial soundness not established

!Property transfer conditional on cross-border asset contribution (Belgian SIMAJUVASTA.LUNE SA) not yet realised

!No pre-commercialisation of rental, operating income entirely provisional without signed contract

!Operator without documented history in property restructuring, adjacent experience only

!Joint and several guarantee under private electronic deed (not notarised), limited enforcement value

⚠ 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.