La Première Brique 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.

L'Alambic (16)

Fragile

score / 100

Yield

11.5%/yr

Duration

22 months

Min. ticket

1 €

Amount raised

533 k€

Invest →

À propos

Refinancing of mixed-use building of 13 units (3 commercial premises + 10 apartments) located Place Édouard Martell in Cognac (16), held by IMMO VALORIS (Guillaume Eymeric). Building acquired since September 2023, planning permission discharged, works starting. Parent company Eric Mey Développement in receivership since April 2025. Repayment planned by unit-by-unit sale of lots, final in maximum 22 months.

Plateforme · 18.5/25

A1 · Statut réglementaire 8.0/8✓ max

agrément AMF licence AMF fonds propres-2023-15 verified and in force

A2 · Track Record 4.5/6bon

Score adjusted thanks to live data: Default rate 0.0% (6 pts), delay rate >6 months 10.1% (4.5 pts), yield not disclosed
Weighted formula: (6×0.5 + 4.5×0.3 + 3×0.2) = 4.95
Rounded 4.5/6

A3 · Rigueur de sélection 2.0/4

Documented audits before publication but selection rate and detailed process not published

A4 · Santé financière 3.0/4bon

Score adjusted thanks to live data: Platform profitable (851K€ profit 2022), healthy growth (367M€ collected, 171K investors), >29 employees, offices in Lyon
Licenced agrément AMF 2023, thus <3 years licence but solid structure

A5 · Protection investisseurs 1.0/3faible

agrément AMF licence guarantees 4-day deadline + continuity plan (1 mandatory pt)
No mention of segregated accounts or secondary market in file

Projet · 21.0/75 (36.0 brut, red flags −15)

B1 · Instrument & Structure 7.0/10

B1.1: 5/5 - Participating loan with remuneration, clear French law

B1.2: 2/3 - Direct loan IMMO VALORIS, French law, well documented

B1.3: 0/2 - First ranking mortgage documented but senior debt not excluded; potential subordinated ranking not clarified

B2 · Opérateur & Track record 6.0/15faible

B2.1: 2/4 - Guillaume EYMERIC appointed manager, little publicly accessible information

B2.2: 2/5 - Groupe Eric Mey (~300 employees) but receivership underway, partial track record

B2.3: 1/3 - First operation on this platform

B2.4: 0/3 - Active receivership EMD since April 2025, extended observation period end 2026

B3 · Garanties & Sûretés 9.0/15

B3.1: 7/9 - First ranking mortgage in course of registration (declared coverage 113%)

B3.2: 1/4 - Guarantee E.M.T.I. (capital 150k only, group in difficulty, financial statements not communicated)

B3.3: 1/2 - No bank credit; 100% crowdfunding financing on 533k (<2m, no RF2)

B4 · Structure financière 7.0/15faible

B4.1: 4/5 - Loan-to-Value (ratio prêt/valeur actif) 553k/1 036k estimated revenue ≈ 53% (Loan-to-Value (ratio prêt/valeur actif)/exit value), range 40-55%

B4.2: 0/4 - 100% crowdfunding, no documented operator equity contribution on this project

B4.3: 2/4 - Low Loan-to-Cost (ratio prêt/coût total) compensates for absence of formal stress test

B4.4: 1/2 - 16% margin validated but declining market and 5% commercialisation

B5 · Pré-commercialisation 3.0/10faible

Score adjusted thanks to live data: declining market with -14% volumes
Single purchase offer (lot 13, 5% of revenue), no binding deed
Interest advanced on 2-4 additional lots but unsigned
Low liquidity market in Cognac

B6 · Permis & Maturité 4.0/5bon

Land completed September 2023 + planning permission obtained March 2023 and discharged July 2023
Works not yet started (3B&S Construction retained, GBE obtained December 2025)
Score 4/5 as works not underway

B7 · Marché & Localisation 0.0/3faible

Score adjusted thanks to live data: declining market - volumes -14% (2023-24), -14.9% announced prices over 12 months
Cognac medium-sized town, narrow market
Risk of discount if commercialisation extended

Points forts

✓Land acquired and completed since September 2023, planning permission obtained and discharged.

✓First ranking mortgage covering 113% of financed amount.

✓Conservative exit prices, validated DVF below median on most tranches.

✓Denormandie tax attractiveness and broadened property deficit expanding buyer pool.

✓Groupe Eric Mey active (~300 employees), Cabinet Rivière overseeing commercialisation.

Risques identifiés

!A receivership procedure concerning Eric Mey Développement (EMD) was identified during analysis. We have not confirmed this information from a primary source (judgment, BODACC, register) and therefore do not present it as a qualified red flag. It remains noted as a point of vigilance and the deduction applied to the score is maintained as is.

!Active receivership on EMD, observation period until end 2026 - group systemic risk.

!Commercialisation at 5% only, no binding deed signed as of crowdfunding collection date.

!Cognac market in decline: volumes -14%, announced prices -14.9% over 12 months.

!100% crowdfunding without documented equity contribution or bank credit.

!Guarantee E.M.T.I. (capital 150k) from group company in difficulty, very limited solidity.

⚠ 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.