Baltis Commercial real estate 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.

Puzzle Atom Condé

Fragile

score / 100

Yield

7.5%/yr

Duration

48 months

Min. ticket

100 €

Amount raised

379 k€

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À propos

Acquisition and transformation of three lots into two apartments located 28 rue de Condé, Paris 6th arrondissement, by Atom Investissements (co-venture Groupe Baltis / Hekaton Atom). Participatory financing via simple bonds over 4 years, Paris micro-apartment model operated on para-hotel/letting basis. Dedicated SPV issuer established February 2025, first financial year closing end 2026.

Plateforme · 16.4/25

A1 · Statut réglementaire 8.0/8✓ max

Licence agrément AMF AMF fonds propres-2023-30 currently valid, verified in AMF register
Complete regulatory status

A2 · Track Record 2.4/6faible

Score adjusted thanks to live data
Default: 6/6 (0% published final defaults)
Delay >90d: 1.5/6 (28.12% delays - range 30-50%)
Yield: insufficient data on realised vs announced IRR (3/6 by caution)
Formula: (6×0.5 + 1.5×0.3 + 3×0.2) = 3.0 + 0.45 + 0.6 = 4.05, minus 2pts penalty incomplete statistics = 2.4/6
CrowdRevolt mentions documented on problematic projects (CRAPONNE), organised investors

A3 · Rigueur de sélection 2.0/4

Mention of a documented selection process (prior audits mentioned in context) but selection rate not published
Credibility affected by 28.12% delays and projects in collective insolvency proceedings despite initial audits

A4 · Santé financière 3.0/4bon

Backed by Magellim Group (4.2bn euro AUM), solid institutional shareholder guaranteeing platform viability
Share capital 75K euro (low) but group structure compensates
No platform distress signal identified
High delay rate (28.12%) does not penalise A4 (measured in A2)

A5 · Protection investisseurs 1.0/3faible

agrément AMF licence: 4 day reflection period plus mandatory continuity plan = 1pt minimum guaranteed
Payment service provider not documented in this data (0pt escrow)
No operational secondary market identified (0pt)

Projet · 24.0/75 (29.0 brut, red flags −5)

B1 · Instrument & Structure 8.0/10bon

B1.1: 5/5 - Simple bonds under French law, documented fixed rate

B1.2: 2/3 - Direct loan from Atom Investissements, French law, without distinct dedicated société dédiée (SPV)

B1.3: 1/2 - Simple bond without known senior debt, rank not formally registered

B2 · Opérateur & Track record 8.0/15

B2.1: 4/4 - Alexandre Toussaint (Baltis) and Thierry Vignal (Atom/Hekaton) appointed, functions specified

B2.2: 2/5 - Atom: 9 projects financed on platform, but independently documented deliverables not documented

B2.3: 2/3 - 9 operations financed on Baltis, no incident reported

B2.4: 0/3 - Atom Investissements registered March 2025, capital €1,000, no accounts; procedures not documented

B3 · Garanties & Sûretés 2.0/15faible

B3.1: 0/9 - No real security or joint and several guarantee documented in file. Triggers RF8

B3.2: 0/4 - Guarantor Atom Investissements: capital €1,000, no verifiable equity

B3.3: 0/2 - No banking partner, 100% crowd financing

B4 · Structure financière 5.0/15faible

B4.1: 2/5 - Loan-to-Value (ratio prêt/valeur actif) not calculable (asset price not disclosed); 100% crowd financing on RE-COM suggests high Loan-to-Value (ratio prêt/valeur actif) by default

B4.2: 0/4 - Operator equity contribution: 0%, financing entirely by bonds

B4.3: 2/4 - No stress test; unknown Loan-to-Value (ratio prêt/valeur actif) prevents structural compensation

B4.4: 1/2 - Target IRR 11% announced, operator margin not quantified in file

B5 · Pré-commercialisation 2.0/10faible

RE-COM: no lease signed, no tenant LOI documented
Para-hotel/flexible letting model mentioned by Atom but without contract
Paris 6th arrondissement market favourable but no firm commitment

B6 · Permis & Maturité 2.0/5faible

RE-COM: Acquisition not completed (under promise or to be finalised post-fundraising)
Prior declaration or permit not documented in file at this stage

B7 · Marché & Localisation 2.0/3

Paris 6th arrondissement: established prime market, strong rental demand, low vacancy
Stabilisation post-correction 2022-2024
Risk of DPE class G (banned Jan 2025) on old asset to monitor

⚠ Alertes détectées · −10 pts déduits

Aucune garantie réelle sur ce projet −5 pts

No real security or guarantee on €379,000 project - no security of any kind documented.

Pas de financement bancaire −5 pts

No banking partner identified on project <€2M - 0pt B3.3, no RF2 deduction (>€2M threshold not reached).

Points forts

✓Paris 6th arrondissement: prime location with strong rental demand and low structural vacancy.

✓9 Atom operations already financed on Baltis without incident reported at this stage.

✓Simple bonds under French law, accessible entry ticket (€100), eligible for PEA-PME.

✓Baltis platform licensed PSFP AMF, complete regulatory framework.

✓Model of discounted Paris micro-apartments with documented appreciation potential.

Risques identifiés

!No real security or joint and several guarantee documented - total capital loss not covered.

!100% participatory bond financing, zero identified operator equity contribution.

!Atom Investissements created March 2025, capital €1,000, no accounts at time of fundraising.

!Acquisition not completed at fundraising date - risk of acquisition failure post-closing.

!Potential duration up to 72 months (extension 2×12 months), prolonged illiquidity possible.

⚠ 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.