Pre-opening | Raizers finances the purchase and refurbishment of a seafront apartment in Saint-Hilaire-de-Riez (France) through a €210,000 loan at 11.00% with a first-rank mortgage

12/08/2026 – ⏱ 3 min

This article is for informational purposes only and does not, under any circumstances, constitute investment advice or a recommendation.

The crowdfunding platform Raizers is preparing to launch a real estate investment opportunity on the Vendée coast (France). The operation consists of a loan secured by a first-rank mortgage granted to the company Cap Épargne Retraite France (CERF), intended for the acquisition and light refurbishment of a seafront apartment in Saint-Hilaire-de-Riez, for its subsequent resale. It is worth recalling that any reference to returns is inseparable from the corresponding risk, which is detailed further below.

The call sets a financing amount of €210,000 and an annual interest rate of 11.00%, with annual interest payment and a minimum period of 6 months; this return reference is subject to investment risk and is not guaranteed. The term of the operation is 18 months, and the contract provides for early repayment in the event of the sale of the property before maturity. According to the documentation, the loan will be secured by a first-rank mortgage over the financed asset, complemented by the notarial personal guarantee of the operator, Marie-Christine Seilles.

Asset Description, Business Plan and Operator

The asset is a three-room apartment with sea views located on the fifth floor of a secure residence with concierge service, on the seafront at the Esplanade de la Mer in Saint-Hilaire-de-Riez. The home has an area of 66.47 square metres and features a living-dining room, a separate kitchen, two bedrooms, a balcony, a storage room and a closed garage. The operation involves the acquisition of the property in its current condition and a light refurbishment — painting, selective replacement of joinery, renovation of flooring, kitchen and bathroom and thermal comfort improvements — with no structural work and, by its nature, no need for administrative authorisation. The maximum works budget is estimated at around €10,300 (VAT included).

The business plan involves the resale of the property after the refurbishment. According to the documentation, the resale is already supported by a purchase offer signed by both parties for €335,000, with the funds expected by the end of April 2027 at the latest. The operator, Cap Épargne Retraite France (CERF), is a company registered in the Paris Commercial Register and owned by Marie-Christine Seilles and her daughter; Ms Seilles, a lawyer by training, has, according to the fact sheet, experience in real estate transactions and plans to handle the marketing directly. The documentation notes as points of attention that this is her first operation as a real estate investor and the possible effect of the geopolitical context on marketing.

Financial Structure, Coverage Ratios and Collateral

The asset is acquired at a price of €215,000, with a total acquisition cost of €225,308, and its expected resale price is €335,000 (€5,040/sqm), in line with comparables on the same street for homes with sea views; an appraisal report included in the file estimates, after the refurbishment, a sale price of between €320,000 and €350,000. Against the €210,000 loan, the operation presents a loan/acquisition price ratio (LTA) of 98%, a loan/acquisition cost ratio (LTC) of 93% and a loan/sale price ratio (LTV) of 63%. The main collateral is a first-rank mortgage in favour of Raizers, on behalf of all subscribers, complemented by the operator's notarial personal guarantee.

In compliance with European crowdfunding regulations, it is recalled that non-sophisticated investors have a pre-contractual reflection period of four calendar days during which they may withdraw their investment offer without justification or penalty. This is a crowdfunding product and not a deposit or a guaranteed savings product. Real estate investments carry risks of illiquidity and total or partial loss of principal; this project is not supervised by the CNMV or the Bank of Spain, and is not covered by the deposit guarantee scheme (Directive 2014/49/EU) or the investor compensation scheme (Directive 97/9/EC).

Realty Investor

Our calendar brings together crowdfunding opportunities from across Europe in one place, so you can plan and follow each issue.

Realty Investor

Your real estate crowdfunding, in one app.

Discover new opportunities. Invest through leading platforms. Manage your whole property portfolio from a single place.

The Realty Investor beta is now available. Explore the market, discover new projects and get to know the platform with simulated money, without putting in any capital.

Download the beta and start discovering a new way to manage your real estate investments.