Béziers Centre — 11%/an · 9 mois

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 · 39.0/75

B1 · Instrument & Structure 8.0/10bon

B1.1: 5/5 - Simple obligation fixed rate 11%, clear French law

B1.2: 2/3 - Direct loan operator Phoenix Invest SASU, well documented

B1.3: 1/2 - First ranking mortgage registered; subordination not explicit, priority ranking

B2 · Opérateur & Track record 5.0/15faible

B2.1: 4/4 - Olivier Artz appointed, identifiable president, nationality, DOB documented

B2.2: 1/5 - First property trader operation for own account; prior experience in advisory only

B2.3: 0/3 - No track record on any platform (first operation)

B2.4: 2/3 - Company created Nov. 2023, capital €1000, no financial statements; gearing not calculable but structure very light

B3 · Garanties & Sûretés 12.0/15bon

B3.1: 9/9 - First ranking mortgage registered + personal guarantee + irrevocable notarised order; mortgage takes priority

B3.2: 1/4 - Guarantor personal guarantee, assets not evaluated, partial information

B3.3: 0/2 - No banking partner identified, project <€2M (no RF2)

B4 · Structure financière 7.0/15faible

B4.1: 2/5 - Loan-to-Value (ratio prêt/valeur actif) not precisely calculable; crowdfunding on operation <€500K without bank contribution, estimated average ratio

B4.2: 1/4 - Operator equity contribution not documented, structure nearly entirely debt financed

B4.3: 2/4 - No formalised stress test; margin 13% offers limited cushion

B4.4: 2/2 - Net margin 13% of turnover >10%, satisfactory for property trader

B5 · Pré-commercialisation 3.0/10faible

Signed offer to purchase (Rank 4 - formalised interest not notarised), no compromise agreement
Block resale to investor not yet secured
Béziers market low liquidity for block property

B6 · Permis & Maturité 3.0/5

Land being acquired (acquisition planned December 2023)
No administrative authorisation required according to file
Refresh works without required permits

B7 · Marché & Localisation 1.0/3faible

Béziers: weak secondary market, -60% transactions over 2 years, -7% price correction over 12 months
Block resale uncertain on illiquid market

Points forts

✓First ranking mortgage registered + irrevocable notarised order: solid guarantee structure.

✓Operator margin of 13% of turnover above minimum property trader thresholds.

✓Baltis platform licensed PSFP AMF, maximum regulatory framework.

✓Offer to purchase already signed: buyer interest formalised before collection.

✓Experienced project manager (RS1ngenierie, >10 years) supervising works.

Risques identifiés

!Operator without property trader experience for own account; first operation in SASU created Nov. 2023.

!Share capital of €1000: operator financial resistance capacity near zero.

!Offer to purchase not notarised (rank 4): block resale not legally secured.

!Béziers market under pressure: -60% transactions over 2 years, -7% price correction.

!No documented equity contribution or banking partner: financing nearly entirely by crowdfunding.