Update from the originator:
The 1st lot was sold in April 2021 allowing you to be reimbursed approximately 50% of the amount invested. The buyer of the last lot withdrew a few days ago and the house is put on sale again. Therefore, the operator will not be able to repay the loan balance as of 09/30/2021 and requests a 6-month extension. The originator has agreed to an amendment which states the rate to be maintained at 9% for 3 months then an increase to 12% for the following 3 months. The new deadline is therefore scheduled for 03/30/2022 at the latest.
This property dealer operation consists of acquiring a property complex in Clamart and reselling a house with 4 lots and a garage-workshop.
The operation, right outside of Paris is located in a residential area close to all amenities, at 80 rue de Fleury, between the town centers of Clamart and Issy-les-Moulineaux.
The Capitalium Real Estate funds by Raizers invests 147 000€ in this operation
The operation concerns the purchase and resale of a house of 270 m², on a plot of land of 248 m², and a garage-workshop of 90 m², on a plot of 232 m², adjoining the land of the house.
The two lots were initially a single property. A parcel division was authorized by the commune under Planning Permit No. 92023 19 B0008, issued on 07/02/2020 and cleared of all appeals on 28/07/2020.
The house, located on cadastral parcel D189, lot C, is composed of:
* A lot on the ground floor (entrance, WC, bathroom with WC, three rooms, shower room, kitchen). It is rented in rent 1948 (639,82 € per quarter since 1970) ;
* A lot in R+1 (WC, three rooms, kitchen, bathroom on the landing) ;
* A lot in R+2 divided into levels (WC, kitchen, one room, attic, bathroom on the landing).
* A lot on garden level (kitchen, one room, hallway, two cellars and two cellars).
The garage-workshop is located on cadastral parcel D189 lot D.
With the exception of some renovation work for the benefit of the tenant on the ground floor, the two lots have not been renovated or modified since, at the very least, the former owner took possession of the property in 1994. Future buyers will have to carry out major works. The sale prices of the lots are low enough to remain attractive once the work has been completed.
Guillaume Drapier, the manager of SAS GPPE, markets the lots himself in order to optimize the margin and the attractiveness of the lots in terms of price.
At around 3,000 €/m², the price is below the market price due to the renovation work to be carried out by the buyers. Considering that the future buyers will carry out 1 500€/m² of work, the price per m² of the lots will remain below the low range of prices in the sector.
The assets will be held by SAS GPPE, chaired and wholly-owned by Guillaume Drapier, with a capital of 1,000 euros, registered with the Paris Trade and Companies Registry under number 832 549 976 on 11/10/2017.
The bond issue will be issued by SAS GPPE at an annual rate of 9% per annum for a period of 12 months. The operator may make an early redemption. In the event of early repayment, interest is paid pro-rata temporis with a minimum of 6 months interest guaranteed. The interest will be paid annually and the capital in-fine.
In order to provide you with additional guarantees, the repayment of the bond loan is guaranteed by :
* First mortgage on the target lots of the acquisition ;
* Personal guarantee by Guillaume Drapier
All the documents associated with this fundraising are available in the "documentation" tab.
Guillaume Drapier, 37 years old, French:
After training as an engineer and an MBA at the Imperial College of London, a reference in the university field, Guillaume Drapier worked in various multinationals before turning to entrepreneurship. He sold his shares in 2016 to join Dassault System as a product manager, a position he still holds today.
Guillaume Drapier has built up a real estate expertise through the real estate assets he has built up and managed. He has invested €200,000 in various works, giving him the keys to the job of property trader.
In addition to this, he has also carried out project management assignments and a joint property-dealer operation (not yet completed).
Finally, Guillaume Drapier comes from a family that has been working in the property sector for 2 generations (rental management and development).
The debt-to-equity ratio allowing the analysis of real estate players is biased here. Indeed, SAS GPPE's balance sheet is made up of properties with a rental yield that covers debt repayment.
Taking into account the Raizers debt (€590,000) and the equity injected by the manager (€60,000), we can put forward debt to equity ratio of 10.16. This ratio is high and reflects the low level of equity injected by the manager in the operation.
|30.09.2021||Makstud||Nr||26 October 2021, 17:44|