Bricks Property development 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.

Maison jumelée Vitry-sur-Seine

Fragile

score / 100

Yield

9.0%/yr

Duration

18 months

Min. ticket

10 €

Amount raised

402 k€

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À propos

Construction of two semi-detached individual houses of 125 m² each (250 m² total) at 8 rue Monsigny, 94400 Vitry-sur-Seine, carried out by AXIOM INVESTISSEMENT (Sinan Tanrikulu). The land is under promise to sell (not yet completed), the building permit is not yet clear of challenge. The collection of 402,000€ finances exclusively the works phase, with progressive drawdown on supporting documents. No units pre-marketed at this stage.

Plateforme · 16.0/25

A1 · Statut réglementaire 8.0/8✓ max

agrément AMF licence from AMF currently valid, licence fonds propres-2023-8
History: struck off from registre ORIAS in April 2022 for unauthorised collection, then agrément AMF licence obtained in June 2023
Current regulatory status fully compliant

A2 · Track Record 3.0/6

Default 6.51% → 3 points (range 3-7%)
Delay 5.38% → 4.5 points (range 5-15%)
Actual yield vs announced: not disclosed → 0 points
A2 = (3×0.5)+(4.5×0.3)+(0×0.2) = 2.85 → rounded 3/6

A3 · Rigueur de sélection 1.0/4faible

No selection rate published, no detailed selection process identified in available data
Recognised platform and number 1 in France in 2025

A4 · Santé financière 3.0/4bon

Independent platform, 141M€ collected in 2025, number 1 in France, 600,000 members
Difficult regulatory history (2022) resolved
Rapid growth, no active distress signal identified

A5 · Protection investisseurs 1.0/3faible

agrément AMF licence guarantees 4-day reflection period and continuity plan (1 mandatory point)
Segregated accounts not explicitly confirmed in the data

Projet · 30.0/75

B1 · Instrument & Structure 8.0/10bon

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

B1.2: 2/3 - Dedicated société dédiée (SPV) SASU well documented French law

B1.3: 1/2 - First ranking mortgage planned not yet registered at the registry office

B2 · Opérateur & Track record 5.0/15faible

B2.1: 2/4 - Sinan Tanrikulu appointed, little verifiable public information

B2.2: 2/5 - Company created 2 years ago, no financial statements, completed operations not documented

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

B2.4: 1/3 - Very recent company, no financial statements available, gearing unknown

B3 · Garanties & Sûretés 9.0/15

B3.1: 7/9 - First ranking mortgage in course of registration (deed signed prior to drawdown). Joint and several guarantee under private deed

B3.2: 1/4 - Guarantor SASU capital 1,000€, no financial statements available, financial strength not assessable

B3.3: 1/2 - No identified bank partner, project <2M€ therefore no RF2

B4 · Structure financière 5.0/15faible

B4.1: 3/5 - Loan-to-Cost (ratio prêt/coût total) estimated 59% (402K/678K)

B4.2: 2/4 - Land 276K on cost 678K ≈ 41% equity committed (>20%)

B4.3: 0/4 - Margin 1.4%, no stress test; slightest variation wipes out margin

B4.4: 0/2 - Net margin 1.4% (<8% promotion immobilière threshold)

B5 · Pré-commercialisation 1.0/10faible

0% of pre-marketing documented
No reservations or binding agreements
Normal start-up phase for construction not commenced → 1 point

B6 · Permis & Maturité 0.0/5faible

Land under promise to sell not yet completed
Building permit obtained not yet clear of challenge (appeals in progress, pre-emption right in progress)
Drawdown conditioned on clearing building permit
Land not secured by notarial deed → 0/5

B7 · Marché & Localisation 2.0/3

Vitry-sur-Seine, inner ring of Paris, established market with Grand Paris Express momentum
Exit price estimated 5,500€/m² consistent with local market
Live data confirms rising market

⚠ Alertes détectées · −8 pts déduits

Terrain pas encore acheté −3 pts

Land not yet completed (promise to sell only) - property trader classification applicable by analogy non-promoter builder VEFA; note: RF6 strictly property trader, not triggered here as RE-PROM → removed

Aucune garantie réelle sur ce projet −5 pts

Joint and several guarantee under private deed documented (B3.1=7) → RF8 not applicable

Points forts

✓First ranking mortgage planned prior to any drawdown of funds

✓Land financed from equity (276K€), works escrow with drawdown on invoices

✓Location Vitry-sur-Seine, inner ring, Grand Paris Express momentum

✓LTV 58.5% providing reasonable protection margin on exit value

✓Escrow of 18 months interest securing debt service

Risques identifiés

!Projected margin of 1.4% (10K€ on 678K€): near zero, slightest overrun wipes out profitability

!Land under promise only, building permit not clear of challenge, pre-emption right in progress - multiple prior conditions not satisfied

!Operator created 2 years ago, no financial statements available, no completed documented operations

!No pre-marketing (0%) on a project with structurally very low margin

!General contractor SINBAT belonging to investor group: risk of conflict of interest on work costs

⚠ 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.