EvoEstate Risk rating is of an informative nature only & can not be considered investment advice.
Purpose of the loan
The operation is located at 105 boulevard Bineau, Neuilly-sur-Seine in the Inkermann district, in the direct vicinity of the Lycée Pasteur and the Neuilly aquatic center. Situated to the west of Paris, the location allows the investor to take advantage of both the proximity of the Bois de Boulogne and the La Défense business district while benefiting from a quiet and friendly neighborhood.
The transaction, led by the UVR-MICAJO group through SCCV 105 Bineau, of which Mr. Cohen is the manager, consists of the acquisition of an old building to demolish it and build a five-unit residence. The building permit has been obtained and cleared of any recourse. Only an amending building permit has been obtained allowing the adjustment of areas located in the basement and has been in the process of being posted since December 23, 2020.
The lots are sold as VEFA and the work is guaranteed by a Financial Completion Guarantee issued by the Caisse d'Epargne.
Three units are under reservation contracts representing 63% of the operation's turnover. 2 units remain for sale with the BARNES agency.
The Raizers financing will enable the acquisition of the plot and the launch of the works.
Zoom on the program
*The surface area used to calculate the price per m² is the living area + 30% of auxiliary areas.
The sale price proposed takes into account the car parks.
The sale price of approximately €15,173 per m² is at the high end of the market price range, which is justified by the new character of the properties on offer and the presence of car parks.
No other new developments are listed on the SE LOGER NEUF website in the commune of Neuilly-sur-Seine to date.
The operation is carried out by SCCV 105 BINEAU, with a capital of 1,000 euros, registered with the LYON Trade and Companies Register under number 887 745 917, on 03/08/2020.
The SCCV, which carries out the operation, is 99% owned by its parent company, SAS MICAJO, which owns SAS BINEAU, which will carry the bond issue.
The bond loan will be issued by SAS BINEAU at an annual rate of 10% per year for a period of 24 months. The bond issue will be repaid in a fine by the operator, with interest paid annually but guaranteed for a minimum period of 6 months.
To provide additional guarantees, the repayment of the bond loan is guaranteed by:
* Personal guarantee from Joseph Cohen
*First Demand Guarantees from the partners of SCCV 105 Bineau, UVR and MICAJO
The bond contract provides for early repayment if:
* Delivery of the building and sale of all the flats
All the documents associated with this fundraising are available in the "documentation" tab.
Joseph Cohen is the founding Chairman of the UVR - MICAJO family group, holding nearly €1.8 million in equity capital. With more than 20 years of experience in real estate, he specializes in particular in residential and commercial property (development, block purchase, restructuring, etc.).
Balance sheet UVR
Income statement UVR
Balance sheet MICAJO
Income statement MICAJO
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Invest in Les Terrasses Pasteur by UVR-MICAJO,Neuilly-sur-Seine, France