Campaign Close | Raizers completes the €450,000 raise for a 16-home residence sold in bulk to a social housing entity in Sausheim (France)

16/07/2026 – ⏱ 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 has issued the closing report for the fundraising round intended for the land acquisition for the construction of a 16-home residence in Sausheim (France), promoted by CITY INVEST and sold entirely in bulk to the social housing entity 3F Grand Est, a subsidiary of the Action Logement group. The subscription process has concluded, consolidating an amount raised of €450,000. Investors should keep in mind that any reference to return is inseparable from the corresponding risk, which is described below.

The campaign completed its €450,000 target in a period of 24 hours. The analysis of the flow of contributions during that interval records an average contribution ratio of €313 per minute.

Investor Base and Capital Distribution

The campaign concluded after registering the participation of 110 investors, who covered the entire amount assigned to the operation. The distribution of the funds raised among that number of contributors yields an average investment ticket of approximately €4,091 per participant.

Financial Terms of the Operation

The Raizers loan amounts to €450,000, intended for the land acquisition, whose purchase price is €434,800; the return of the operation is subject to investment risk and is not guaranteed. The bond issue provides for early repayments: the amortization of 50% of the capital at the «Hors d'Eau» funds call, scheduled for October 2027, and the amortization of the remaining balance at the «Hors d'Air» funds call, scheduled for November 2027. In compliance with the European regulatory framework, non-experienced investors have a four-calendar-day pre-contractual reflection period during which they may revoke their commitment at no cost and without justification.

Asset Description, Marketing and Timeline

The asset is a building of 16 homes distributed over three floors (ground floor, first floor and penthouse), comprising six two-bedroom homes, six three-bedroom and four four-bedroom, and integrating eight subsidized homes (PLAI/PLUS) and eight intermediate rental homes (LLI). Each home has a private outdoor space, and the project includes 16 basement garages, outdoor parking spaces and a bicycle room. It is located on Rue Jean de la Fontaine, in Sausheim (68390), a municipality of about 5,700 inhabitants in the Mulhouse conurbation, with access via the A35 and A36 motorways. The entire project is sold in bulk to 3F Grand Est through an off-plan sale (VEFA); the reservation contract was signed before a notary on 30 April 2026 and the signing of the VEFA deed is scheduled for the fourth quarter of 2026. Works will begin in December 2026, with delivery expected in October 2028 and a budget of €1,717,288 excluding VAT.

Capital Structure, Coverage Ratios and Collateral

The Raizers loan of €450,000 stands against a land acquisition price of €434,800 (LTA of 103%), a production cost of €2,492,884 (LTC of 18%) and an expected sale price for the scheme of €3,037,282 (LTV of 15%). The operation is carried out by CITY INVEST, a simplified joint-stock company incorporated in 2007 and registered with the Mulhouse Commercial Register; the SCCV Le Domaine Fontaine, which executes the operation, is 99.9% owned by its parent company, SC Groupe BCF, in charge of the bond issue. Repayment is secured by the notarial personal guarantee of Cédric Bihler —with a declared net worth of €4.7M— and by the notarial first-demand guarantees of the SCCV Domaine Fontaine and SC Groupe BCF. Raizers indicates that it has previously collaborated with the group on six projects, all of them repaid ahead of schedule. Among the points to bear in mind, the platform itself notes that the current geopolitical situation could affect the works.

Finally, in compliance with the regulations governing crowdfunding platforms, investors are reminded that this is a participatory financing product and not a deposit or a guaranteed savings product, and that real estate investments carry specific risks, such as illiquidity, the risk of not obtaining the expected return, or the partial or total loss of the invested capital. This project is not supervised by the CNMV or the Bank of Spain, and the invested capital is not covered by the deposit guarantee fund or the investor compensation scheme.

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