Pre-opening | Raizers Finances the Purchase and Refurbishment of Villa Bagatelle in Arcachon (France) with €440,000

22/09/2026 – ⏱ 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 €440,000 bond issue for SAS KARE, a company run by Sébastien Devaux, which will buy and refurbish Villa Bagatelle, an 1870 villa at 16 avenue Sainte-Marie in Arcachon, on France's Atlantic coast. It should be remembered that any reference to return is inseparable from the corresponding risk, which is set out below.

The Raizers funds cover part of the equity required by the operation's bank loan and will be repaid from the proceeds of the sale of the villa once refurbished. The published fact sheet does not state the interest rate or the term of the loan, essential figures for assessing the operation, nor the purchase price, total cost, opening date or minimum investment; investors should verify these in the contractual documentation before committing funds.

Asset description, construction progress and sales traction

The villa has 305 sqm of living space on a 1,549 sqm plot; enclosing the covered terrace will take it to 340 sqm. The full refurbishment, budgeted at €751,000 excluding VAT, includes a lift, renewed installations and insulation, a 12 × 4 metre pool, a terrace of around 100 sqm and a pool house; the garage and four parking spaces are retained. The purchase is planned for October 2026, the start of works for December and delivery for July 2027.

The expected sale price is €3,400,000, at €10,000 per sqm, below the market references of €12,112 to €12,532 per sqm cited by the platform. The villa has no pre-sale commitment, and the platform itself flags the geopolitical situation as a factor that could affect both the works and the sale. Devaux reports more than 50 operations in the Arcachon basin; the fact sheet speaks of seven financed by Raizers and six repaid in one section, and of six financed and all repaid in another. The latest, Elisée Reclus, was sold in March 2026 for €2,100,000.

Financial structure, coverage ratios and security

Raizers investors have no mortgage over the villa: their contribution replaces equity and ranks behind the bank loan. Repayment is backed by notarised personal guarantees from Sébastien Devaux and Sylvie Montexier and by a first-demand guarantee from SAS LAVEO. The fact sheet provides no valuation, LTV or LTC.

The published accounts show small balance sheets. SAS KARE closed 2025 with €74,770 of equity, after losses of €28,952 in 2025 and €99,576 in 2024, a year in which its equity was negative. The guarantor LAVEO had €72,047 of equity and €713,167 of financial debt at the end of 2025.

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 has no cover under Directives 2014/49/EU and 97/9/EC. Investors may not recover the capital contributed.

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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.