The operation is located in the ZAC des Alpins, in the heart of the town of Bourg-Saint-Maurice, between the town center where all amenities and shops are located and the funicular station for access to the Paradiski ski area in a few minutes.
The operation consists in the acquisition and rehabilitation of 2 independent buildings and the adjoining land. The buildings were intended for the housing of the military and are disused since 2012. They will be converted into 64 lots ranging from T1 to T5. The land will allow the construction of a parking lot of approximately 110 parking spaces, including 65 individual covered closed boxes.
The lots of building A are sold in raw trays and those of building B on a turnkey basis, the work on the private parts being carried out.
The sale of the closed boxes is intended only for the buyers of the Carré Alpin apartments and is limited to one box per apartment. They are sold at a price of 20 000€ and, to date, 24 boxes are under reservation contract, representing a turnover of 480 000€.
The surplus will be kept for the marketing of buildings C and D corresponding to the second phase of the project.
As the buildings are existing and are considered as "old" for tax purposes, and as the work is not considered to be refurbishment for tax purposes, the resale of flat or finished apartments is carried out under the Sale of Building in Future Renovation (VIR) scheme.
* The price of the existing is to be paid at the signing of the deed;
* The price of the work as and when it is completed.
The garages being built in their entirety, they are sold under the regime of the Sale in Future State of Completion (VEFA).
The sale is carried out internally by Cap Investissements and is based on a model apartment finalized at the beginning of the year.
State of commercialization:
* 73% of the housing units (67% of the turnover)
* 37% of garages (37% of garage revenues)
The prices analyzed correspond to the turnkey lots sold, as the supply of trays offers very few comparables. The average price of 3,411 €/m² for turnkey apartments and 2,187 €/m² for apartments in trays, i.e. estimated work of 1,000 €/m², is within the market average.
The transaction is carried out by SAS Carré Alpin 1, with a capital of 10,000 euros, registered with the Annecy Trade and Companies Registry under number 878 054 386 on October 14, 2019.In order to comply with the regulatory provisions governing bonds, SAS Carré Alpin 1 will have to carry out an asset/liability verification.
The bond loan will be issued by SAS Carré Alpin 1 at an annual rate of 9% per year for a period of 18 months. Interest is paid annually but guaranteed for a minimum period of 6 months. The bond issue may be amortized and repaid in four tranches at the operator's convenience.
In order to provide additional guarantees, the bond repayment is guaranteed by:
*Personal guarantee of Mr Lerousseau
*First Demand Guarantees of the Cap Investissements SARL
The bond contract provides for early redemption if:
* Sale of all the lots
All the documents associated with this fundraising are available in the "documentation" tab.
The remaining 38.35% of Carré Alpin 1 is held by 10 individuals with a pure investor role. This investment model is implemented for each of the Cap Investissements programs (SAS Les Chardons).
Didier Lerousseau, 43 years old, French:
After having worked at AXA as a chargé d'affaires for 3 years, Mr. Lerousseau created his company Cap Investissements in 2002, which carries out property dealer operations.
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Invest in Carré Alpin by Cap Investissements,Albertville, France