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To assign the grades A and E, we use a Bonus/Malus system.
⚠️ Some criteria may be missing in the detailed list below.
⚠️ The scoring model is not suitable for all types of projects.
The total points for this project is 10
| Criteria | Points |
|---|---|
| mortgage coverage | ∅ |
| optimistic scenario margin | ∅ |
| pre-commercialization | 🟩 |
| track record | 🟩🟩 |
| location | 🟩🟩 |
| in the vicinity | 🟩 |
| yield | 🟩 |
| LTA | ∅ |
| LTS | 🟩 |
| operator commitment | ∅ |
| sales price | 🟥 |
| permanent loss | 🟩 |
| late projects | 🟩 |
| price trend | ∅ |
| urban planning risk | 🟩 |
| debt to equity | ∅ |
| debt to asset | ∅ |
This review is proposed by Grégory Vaur on
⏰ The project starts on 05/09/2024 20h00
💰 The estimated rate of return is 11% per year.
⏱ The duration of the project is 24m
💼 Minimum amount to invest is 1000€
🤖 Review's summary
The project is scheduled to take place on 2024-09-05 at 20:00:00
Overall opinion: Rather weak guarantees, pre-commercialization ongoing (46 lots reserved out of 152), experienced operator, coherent exit price, reasonable margin in case of discount, significant works representing 50% of the cost price.
It involves the construction of a co-living residence comprising two R+4 buildings with 139 lots for private ownership and 13 lots for social ownership. The environmentally certified program will include shared living spaces, a laundry room, a security service, 70 parking spaces, and a bicycle parking facility.
Location: Rennes is a city of around 67,000 inhabitants located 108 km from Nantes and 79 km from Laval.
✅ High yield of 11%.
✅ Guarantee Type: Joint and several guarantee.
✅ Pre-commercialization: 30% of the volume pre-commercialized (46 lots reserved out of 152) but no information on any suspensive conditions.
✅ Operator's health: No balance sheet made available.
✅ Location: Near a commercial area, city with over 100k inhabitants.
✅ Close to a commercial area, doctor, or primary school.
✅ Exit price rather realistic between the average price and the upper range.
✅ Apartment prices have increased by 0.9% in the last year.
✅ Optimistic scenario margin: 12% - high margin.
❗ Pessimistic scenario margin: 7% in case of unforeseen works - decent margin.
❗ Start of works expected by December 2024.
✅ State of the property: New, post-construction.
✅ No urbanistic risk, building permit obtained and cleared.
❗ Works representing 50% of the cost price.
✅ Operator's project history: Very experienced operator (group with 100 years of experience) familiar with the sector.
✅ Financing outstanding and operator delay: No known delays to date.
❗ Loan to Acquisition: 167% - high.
✅ Loan to Sale: 39% - very low.
Loan to Construction Cost: 79%
❗ Operator's commitment: 6% - low.
Platform quality:
✅ 3.09% of delays over 6 months at Homunity - low.
✅ 0% permanent losses at Homunity - low.
1 year of free access to the Objectif-Renta investor club
➡️ The link is here: Homunity Objectif-Renta
In my opinion, the Neos project at Homunity appears to have some positive aspects such as an experienced operator, realistic exit prices, and a decent margin in case of unexpected works. However, the weak guarantees and the significant amount of works representing 50% of the cost price raise some concerns. Overall, considering the high yield, low platform delays, and the bonus of access to the investor club, the project seems promising for potential investors.
35 voters
👎63% 👍3% 🤷9% 🏳️26%
To vote : 
Grégory Vaur
Grégory, I am 26 years old and have been an investor in real estate crowdfunding, stock markets and crowd-lending for around 1 year. I trained myself by watching videos on these subjects. I am currently registered on the first brick, Clubfunding, Raizers...
The votes take place in the Objectif-Renta Investors Club.
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