Pre-opening | Raizers Finances With €280,000 the Split of a House Into Two Homes in Carpentras

09/10/2026 – ⏱ 3 min

This article is for informational purposes only and does not constitute investment advice or a recommendation of any kind.

Raizers is preparing a €280,000 loan over 24 months, at 11% a year, to finance the purchase and renovation of a house in Carpentras (Vaucluse, France) that the developer will split into two terraced homes for resale.

The fact sheet publishes no opening date, minimum investment or rating. The contract takes effect on 23 October 2026 and matures on 23 October 2028, with repayment in fine and capitalised interest: the schedule pays nothing at the first maturity and settles €65,005.91 of interest together with the principal at the second, even though the same fact sheet describes interest payments as annual. The 11% is a target rate; this estimate is subject to investment risk and is not guaranteed.

Asset description, construction progress and sales traction

The property is a Provençal house with one floor plus an attic on avenue Jean-Henri Fabre in Carpentras. The project splits it into two terraced homes, each with a patio and two parking spaces, with a full renovation targeting a D or C energy rating.

The two lots total 241 sqm and are valued at €2,100 per sqm net, €506,100 in all. There are no sales or reservations: marketing will begin once the works are finished, through Century21 Carpentras. The fact sheet lists it as "long-term" among the points to watch. Prior authorisation has been obtained and its period has elapsed. The works budget is €52,021 excluding VAT, €216 per sqm; the fact sheet also calls it limited, though the developer has already carried out renovations at similar cost.

Financial structure, coverage ratios and security

The funds cover the acquisition, €225,000 plus €6,750 of notary fees, and the works. The project balance puts production cost at €393,716 against that €506,100, with a net margin of €112,384 that the fact sheet presents as 20% of turnover including VAT. That margin builds in €46,200 of interest, the equivalent of a year and a half of the loan; with the €65,005.91 set by its own maturity schedule over 24 months, cost rises to €412,522 and the margin falls to €93,578, or 18.5%.

The main security is a first-ranking mortgage with a 55% LTV, calculated on the €506,100 of projected sale value and not on the purchase price: against the €225,000 acquisition, the loan comes to 124%. A personal guarantee from the developer and early repayment on each lot sold are added. Declared equity is 16%, some €55,000 of the €335,026 of acquisition and works cost. The borrower is EVANOAA, incorporated on 15 October 2025 with €1,000 of share capital: this is its first operation as a company. Kevin Delplanque has three earlier deals, all single-lot, with margins of 27.7%, 26.7% and 43.9%, above the 20% projected here — which is also his first split into two homes.

Non-sophisticated investors have a four-calendar-day pre-contractual reflection period to revoke their offer without penalty. This is a crowdfunding product, not a deposit or a guaranteed savings product: it carries risks of illiquidity and of total or partial loss of principal, it is not supervised by the CNMV or the Bank of Spain, and it has no cover under Directives 2014/49/EU and 97/9/EC. Investors may not recover the capital contributed.

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Your real estate crowdfunding, in one app.

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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.