La Première Brique Property trading 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.

L'Ohana (94)

Average

score / 100

Yield

11.5%/yr

Duration

24 months

Min. ticket

1 €

Amount raised

628 k€

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À propos

Property trader operation with works in Saint-Maur-des-Fossés (Val-de-Marne, 94), relating to the acquisition of an immovable property comprising two houses (100 m² + 30 m²) acquired in judicial auction/compulsory liquidation. The operator DE MERE EN FILS MDB plans an internal reorganisation of the main house and complete rehabilitation of the secondary house, then resale in two separate lots. Land under deed of sale (signed 10 July 2025), works to commence, no pre-commercialisation.

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 · 34.0/75 (37.0 brut, red flags −3)

B1 · Instrument & Structure 8.0/10bon

B1.1: 5/5 - Participating loan, French law, fixed rate

B1.2: 2/3 - SAS dedicated to the operation, clear French law, distinct issuer

B1.3: 1/2 - First-ranking mortgage provided for, not yet registered at the time of the file

B2 · Opérateur & Track record 5.0/15faible

B2.1: 4/4 - Laurence Delannoy appointed, identifiable president, son Thibaud Cucinotta co-shareholder

B2.2: 1/5 - First property trader operation carried out via vehicle created September 2025, claimed urban planning experience not verifiable

B2.3: 0/3 - No operation on this platform nor other

B2.4: 0/3 - Company created September 2025, capital 1,000€, no accounts, no verifiable history

B3 · Garanties & Sûretés 9.0/15

B3.1: 7/9 - First-ranking mortgage provided for, registration in progress (deed not yet signed). Personal guarantee 753,600€ mentioned

B3.2: 1/4 - Guarantor = Laurence Delannoy natural person, assets not documented, joint and several guarantee without accounts

B3.3: 0/2 - No banking partner; amount <2M€ therefore RF2 not triggered

B4 · Structure financière 8.0/15

B4.1: 3/5 - Loan-to-Value (ratio prêt/valeur actif) 60% (threshold 55-65%)

B4.2: 2/4 - Operator contribution 25.82% of total cost (threshold 25-35%)

B4.3: 2/4 - Loan-to-Value (ratio prêt/valeur actif) 60% low compensates for absence of documented stress test

B4.4: 1/2 - Net margin 19% > 15% but post-works commercialisation not secured

B5 · Pré-commercialisation 2.0/10faible

No pre-commercialised lot
Commercialisation planned after works
Saint-Maur-des-Fossés liquid market but exit price in upper range
Score: 2/10 (standard product, liquid market, without commitment)

B6 · Permis & Maturité 3.0/5

Deed of sale signed July 2025, land not yet finalised at the date of the file
Prior declaration and demolition permit obtained and cleared
Land under deed of sale = limited score for marchand de biens

B7 · Marché & Localisation 2.0/3

Saint-Maur-des-Fossés: established residential municipality Val-de-Marne, sustained demand, RER A
Exit price in upper range (8,077€/m²) close to local ceiling
Stable market 2025

⚠ Alertes détectées · −3 pts déduits

Terrain pas encore acheté −3 pts

Land not yet finalised (deed of sale signed July 2025) - RE-MDB, acquisition not completed by notarial deed.

Points forts

✓First-ranking mortgage provided for with progressive coverage from first drawdown.

✓LTV of 60% offers reasonable protection cushion on exit value.

✓Provisional margin of 19% exceeds the norm for this type of operation.

✓Urban planning authorisations (prior declaration and demolition permit) obtained and cleared.

✓Saint-Maur-des-Fossés: historically solid residential market, well served by RER A.

Risques identifiés

!No pre-commercialisation: full resale post-works, total commercial risk not covered.

!Carrying vehicle created September 2025, capital 1,000€, no accounts, first documented property trader operation.

!Land not finalised (under deed of sale): acquisition not completed at the date of the capital raise.

!Exit price secondary house (10,000€/m²) well above local high price (8,185€/m²).

!Works contingency limited to 5% for complete rehabilitation; contingency budget insufficient.

⚠ 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.