ClubFunding 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.

UNIT – CASTELNAU-LE-LEZ

Average

score / 100

Yield

11%/yr

Duration

18 months

Min. ticket

1 k€

Amount raised

950 k€

Invest →

À propos

Property trader operation in Castelnau-le-Lez (34), municipality bordering Montpellier. Acquisition of a 360 m² villa with swimming pool for 730 K€ (excluding costs) followed by complete renovation for 300 K€, with target resale at 1,800 K€. The issuer is a dedicated SPV (SAS SPV CASTELNAU), controlled by UNIT, company created in September 2024, directed by Daniel Alfano. The property is under promise of sale, acquisition planned end September 2026.

Plateforme · 16.0/25

A1 · Statut réglementaire 8.0/8✓ max

AMF agrément AMF licence in force → 8 pts

A2 · Track Record 1.0/6faible

Default 17.45% (>15%) → 0/6
Delay rate 31.05% (30-50%) → 1.5/6
Realised return 6.5-7.5% vs announced ~10% (gap ~2.5-3.5pp below lower bound) → 1.5/6
A2 = (0×0.5)+(1.5×0.3)+(1.5×0.2) = 0.75 → rounded 1/6

A3 · Rigueur de sélection 2.0/4

Ranked 5th in 2024 rankings, process mentioned, but selection rate not published and concerns flagged on selection quality

A4 · Santé financière 3.0/4bon

Independent platform, active since 2014, >€1bn raised, monthly publication of indicators, no platform distress signal identified

A5 · Protection investisseurs 2.0/3

Licensed agrément AMF → reflection period 4 days + continuity plan (1 mandatory pt)
Standard agrément AMF segregated accounts (1 pt)
Secondary market not documented (0 pt)

Projet · 34.0/75 (37.0 brut, red flags −3)

B1 · Instrument & Structure 8.0/10bon

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

B1.2: 2/3 - Dedicated société dédiée (SPV) SAS société dédiée (SPV) CASTELNAU, clear French law

B1.3: 1/2 - No known senior debt, de facto 1st rank not registered

B2 · Opérateur & Track record 5.0/15faible

B2.1: 2/4 - Daniel Alfano appointed, 37 years old, little verifiable public information

B2.2: 1/5 - First property trader operation, background in real estate agent only

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

B2.4: 2/3 - société dédiée (SPV) created 08/2026, UNIT created 09/2024, limited accounts, no proceeding detected

B3 · Garanties & Sûretés 8.0/15

B3.1: 4/9 - Personal guarantee of director not notarised plus trust over cash (coupon escrow)

B3.2: 1/4 - Director's assets: personal residence only, not financially valued

B3.3: 0/2 - No bank financing sought (less than €2M, RF2 not triggered but 0 points)

B4 · Structure financière 9.0/15

B4.1: 4/5 - Loan-to-Value (ratio prêt/valeur actif) approximately 53% (950K/1800K post-works), range 40-55% leads to 4 points

B4.2: 2/4 - Operator equity approximately 473K€ on total approximately 1503K€ equal to approximately 31% in range 25-35%

B4.3: 2/4 - No documented stress test, moderate Loan-to-Value (ratio prêt/valeur actif) partially compensates

B4.4: 1/2 - Forecast margin approximately 16% (270K€/1800K€) but no stress test documented

B5 · Pré-commercialisation 2.0/10faible

No firm commitment (no final buyer undertaking)
Marketing to begin post-works
Standard product on liquid market Castelnau-le-Lez leads to 2 points marchand de biens

B6 · Permis & Maturité 3.0/5

Land under promise (reiteration 30/09/2026), not yet formalised at document date
Acquisition planned 30/09/2026
No administrative authorisation required for works
RF6 triggered (marchand de biens, land not formalised)

B7 · Marché & Localisation 2.0/3

Castelnau-le-Lez, municipality bordering Montpellier
Stable market, slight decline -1.49% per annum
Exit price 5,000€/m² renovated villa consistent with houses (approximately 5,203€/m²)
Established market regional metropolis leads to 2 points

⚠ Alertes détectées · −3 pts déduits

Terrain pas encore acheté −3 pts

Land not yet formalised at document date (promise with reiteration 30/09/2026) - RE-MDB, land under promise

Points forts

✓Simple bonds French law, dedicated SPV, clear structure.

✓Operator equity contribution approximately 473 K€ equal to approximately 31% of total financing.

✓Resale price 5,000€/m² consistent with local estate agent valuation opinion (1,750-1,850 K€).

✓Trust over cash and 12-month coupon escrow strengthen security.

✓No administrative authorisation required, renovation works without permit.

Risques identifiés

!Operator first property trader operation, UNIT company created in 2024, no delivered track record.

!No bank financing, single-product risk without independent external validation.

!Land not formalised at document date, acquisition planned end September 2026.

!No pre-marketing, sale to begin post-works on asset of substantial volume.

!ClubFunding default rate greater than 17% and delays greater than 31%, concerning platform portfolio quality.

⚠ 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.