L'Élysée — 10.5%/an · 24 mois

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 · 52.0/75

B1 · Instrument & Structure 8.0/10bon

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

B1.2: 2/3 - société dédiée (SPV) FINANCIERE 5 AGUESSEAU dedicated, issuer distinct from operator

B1.3: 1/2 - First-ranking mortgage mentioned, registration formality not confirmed at file date

B2 · Opérateur & Track record 10.0/15

B2.1: 4/4 - Raphaël Behar appointed, Kbis provided, domicile identifiable

B2.2: 4/5 - Paris property trader over 20 years, 26 assets, no precise number of units delivered

B2.3: 1/3 - First operation on Homunity, property trader reputation verifiable

B2.4: 1/3 - No PROJETIM collective insolvency proceeding but initial SIREN mismatch reported; investor complaints on platform

B3 · Garanties & Sûretés 10.0/15

B3.1: 9/9 - First-ranking mortgage on 2 storeys valued over 6M€

B3.2: 1/4 - Guarantor société dédiée (SPV) created 01/09/2026, capital 1000€, financial information almost nil. Guarantor PROJETIM net assets 14M€ but not formalised

B3.3: 0/2 - No identified banking partner, amount below 2M€ minimum not reached

B4 · Structure financière 9.0/15

B4.1: 4/5 - Mortgage Loan-to-Value (ratio prêt/valeur actif): 2.5M/6M+ = approximately 42% on encumbered asset, favourable Loan-to-Value (ratio prêt/valeur actif)

B4.2: 1/4 - Operator equity 953K€ on total 3.45M€ = 28%, 35-50% threshold not reached

B4.3: 3/4 - Stress -45% on stock unit: 19.9% positive margin documented

B4.4: 1/2 - Net margin 24.9% revenue including VAT strong but forecast basis not audited

B5 · Pré-commercialisation 8.0/10bon

83% by volume, 5/6 units under signed notarial promises of sale
1 four-room unit in stock at 2.1M€ at market-consistent price
Over 50% units under notarial promise: 8/10

B6 · Permis & Maturité 4.0/5bon

Land acquired (deed confirmed: 'as the land is acquired, we are intervening in refinancing')
Works not started, permit not explicitly mentioned but heavy renovation: 4/5

B7 · Marché & Localisation 3.0/3✓ max

Paris 8th arrondissement, Madeleine district, 100m from Élysée: ultra-central premium market
Target prices approximately 16-22K€/m² consistent with 14K€/m² median 8th arrondissement
Structural demand exceeding supply

Points forts

✓First-ranking mortgage on 8th arrondissement Paris asset valued over 6M€ for 2.5M€ raised.

✓83% commercialised, 5/6 units under signed notarial promises of sale.

✓PROJETIM operator active for over 20 years, net assets 14M€, global LTV 32%.

✓Ultra-prime location Paris 8th arrondissement, Madeleine district, strong structural demand.

✓Forecast margin 24.9% revenue including VAT, resistant to -45% stress on remaining unit.

Risques identifiés

!Homunity platform: 35.75% default and 33.98% delay rate in portfolio - claims management risk.

!Issuer SPV FINANCIERE 5 AGUESSEAU created 01/09/2026, capital 1000€, zero financial solidity.

!Works not started: risk of cost overrun on works explicitly mentioned in file.

!Project listed on CrowdRevolt: investor complaints on Homunity platform documented.

!Equity refinancing at 72%: high crowdfunding dependency, low operator commitment.

⚠ 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.