À propos
Acquisition and high-end renovation operation of a 268 m² apartment located at 7 rue Lincoln, Paris 8th (triangle d'or), carried out by property trader Groupe Trianon. Sale deed planned for October 2026, with site delivery in July 2027. Partial refinancing of equity via bullet obligation issuance over 24 months.
Plateforme · 16.5/25
A1 · Statut réglementaire
8.0/8✓ max
- Licence agrément AMF AMF fonds propres-2023-31 active since November 2023 + registre ORIAS 16003112
- Maximum regulatory status
A2 · Track Record
0.5/6faible
- Default 35.75% (>15%) → 0/6
- Delay rate 33.98% (30-50%) → 1.5/6
- Actual return vs announced not disclosed → 0/6
- A2 = (0×0.5)+(1.5×0.3)+(0×0.2) = 0.45 ≈ 0.5
A3 · Rigueur de sélection
2.0/4
- Selection process mentioned but selection rate not published
- Recognised platform, 577 projects financed
A4 · Santé financière
4.0/4✓ max
- Subsidiary of Tikehau Capital (>50 bn EUR AUM), listed institutional group
- No distress signals at platform level
- Delay/default rates fall under A2, not A4
A5 · Protection investisseurs
2.0/3
- Licensed agrément AMF → 4-day reflection period + mandatory continuity plan (1 pt)
- Segregated accounts via third-party PSP compliant with agrément AMF (1 pt)
- Secondary market not documented (0 pt)
Projet · 42.0/75
B1 · Instrument & Structure
8.0/10bon
B1.1: 5/5 - Simple obligation fixed rate 12%, French law
B1.2: 2/3 - Direct operator loan (SAS Groupe Trianon Investissement), well documented
B1.3: 1/2 - Unsecured obligation, senior bank credit in priority ranking mentioned
B2 · Opérateur & Track record
8.0/15
B2.1: 4/4 - Three directors appointed (Charles, Dussolle, Latger) with verifiable public profiles
B2.2: 3/5 - 21 property trader projects delivered (~17M€ turnover), but group structured since April 2025
B2.3: 1/3 - 1st operation on Homunity, verifiable reputation via property trader track record
B2.4: 0/3 - Negative net result (-40k€), capital 10k€, high gearing; consolidated accounts absent
B3 · Garanties & Sûretés
7.0/15faible
B3.1: 5/9 - Joint and several guarantees from two holding companies (KDMG Immobilier and Financière Charles)
B3.2: 1/4 - Holdings created in 2022, capital 10k€ each, balance sheet not communicated, financial soundness not verifiable
B3.3: 1/2 - Bank credit granted (65% = 3.6M€) but bank not named
B4 · Structure financière
10.0/15
B4.1: 4/5 - Loan-to-Value (ratio prêt/valeur actif) crowd/asset value = 776k€/5.56M€ ≈ 14%; on total Loan-to-Value (ratio prêt/valeur actif) (debt+crowd)/value ≈ 82%, property trader threshold different; Loan-to-Cost (ratio prêt/coût total) crowd alone very low → 4/5
B4.2: 1/4 - Developer equity 3% (194k€) of total cost, < 15%
B4.3: 3/4 - Stress test -13% presented, margin remains positive at 1% turnover
B4.4: 2/2 - Net margin 16.1% > 15% property trader threshold
B5 · Pré-commercialisation
2.0/10faible
- Property trader: no commitment signed on the apartment, but location triangle d'or Paris 8th, liquid market and documented international demand
- Exit price 24k€/m² consistent with 2025 comparables (21k-25k€/m²)
- Liquid market but no buyer identified
B6 · Permis & Maturité
4.0/5bon
- Property trader: land being acquired (deed planned October 2026, promise signed June 2026)
- No building permit required (interior renovation)
- Situation under promise at dossier date → 4/5 as promise is firm and signed, works to be launched
B7 · Marché & Localisation
3.0/3✓ max
- Triangle d'or Paris 8th: premium prestige market, >18k€/m² observed, structural international demand, supply highly constrained
- Exit price 24k€/m² aligned with recent 2025 comparables
Points forts
Location triangle d'or Paris 8th, prestige market structurally under-supplied.
Projected margin 16.1% > property trader threshold, stress test -13% documented.
21 property trader projects delivered for ~17M€ turnover, real operational track record.
Senior bank credit of 3.6M€ granted (independent external validation).
Recent 2025 comparables confirm exit price 24k€/m² realistic.
Risques identifiés
Guarantor holdings (KDMG Immobilier, Financière Charles) with capital of 10k€ each - financial soundness not verifiable.
Groupe Trianon structured in current form since April 2025, consolidated accounts absent.
No buyer identified: repayment entirely conditional on sale within 24 months.
Negative net result (-40k€) and social capital of 10k€ for borrowing entity.
Homunity platform: default rate 35.75% and delays 33.98% - recovery risk in case of dispute.
⚠ 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.