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Macro Location Analysis
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Loan To value
The operation, carried out by the company Nina Milo, consists of the rehabilitation of a warehouse into 8 housing units located rue du 8 Mai 1945 in the commune of Arveyres (33500), close to the Bordeaux metropolis and bordering the city of Libourne.
This sector is experiencing constant growth, driven by the horizontal expansion of Bordeaux, whose rising prices are expanding the population to its outskirts.
The rehabilitation project is the subject of a building permit obtained in October 2020 and cleared of all appeals. The warehouse will be rehabilitated into 8 housings, T2 and T3, with surfaces adapted in particular to first-time buyers, the core target of the operation. The land will be acquired by Mr. TREMY at the end of April 2021 with his own funds.
The operation is being carried out by NINA MILO, a company recently created by Mr. TREMY as part of his real estate development. The operator is carrying out 6 small rehabilitation operations during the year 2021. This is its first operation of this scale. All its operations are financed on the basis of its own equity.
It should be noted that the operator is surrounded by several professionals to carry out its operation. All of the lots are commercialized by Immobilier Aquitain, a local agency that perfectly masters its sector. In addition, the operator is accompanied by local architects (ACTION ARCH) and project managers (FRANCE BATIMO), as well as the contractors working on the site. All of the estimates were signed and are in line with the construction cost shown on the balance sheet.
The warehouse in its current state :
Zoom on the program
The prices posted by the operator are higher than average but remain within the upper range of market prices, which is consistent with the real estate in the area.
These prices are justified by the "new" character of the apartments in a sector with aging real estate.
Apartments represent only 5% of the housing in the municipality, but this type of housing is tending to develop in Arveyres and in the neighboring municipalities due to the expansion of the Bordeaux metropolitan area.
Arveyres is located in the Entre-deux-Mers region, on the left bank of the Dordogne River, in the urban area of Bordeaux and its urban unit, as well as in the Libournais agglomeration community.
The commune has excellent potential due to its lack of housing combined with a very high demand due to its geographical location (15 minutes from the Bordeaux ring road, 5 minutes from Libourne, 15 minutes from St. Emilion...)
Arveyres is located on the Paris - Bordeaux line and is accessible by the A89 freeway as well as by the national road 89. Moreover, the Bordeaux metropolis is developing its transport offer, notably with the deployment of several RER lines by 2028. The inauguration of this developing network took place in December 2020 with the Libourne - Arcachon line (also serving Bordeaux), which constitutes a definitely added value for the concerned and neighboring communes, such as Arveyres. This development is part of the "rurban" mobility (rural and urban) put forward by the Bordeaux Metropolis, thus favoring the real estate market of Arveyres.
The operation is carried out by NINA MILO, with a capital of 1,000 euros, registered in the Bordeaux Trade and Companies Register under number 849 659 859, on 05/04/2019.
The SAS NINA MILO which carries the Rue du 8 Mai 1945 operation is 100% owned directly by Mr. TREMY.
In order to meet the regulatory provisions as regards the bond issue, SAS L'ORANGE PRESSEE, held at 100 % by Mr. TREMY, will bring its First Demand Guarantee.
The bond loan will be issued by SAS NINA MILO at an annual rate of 10% per year, for a duration of 18 months. The bond will be amortized and repaid as the operator sells the products, the interest is paid at maturity but guaranteed for a minimum period of 6 months.
In order to provide additional guarantees, the repayment of the bond loan is secured by :
* 1st rank mortgage in favor of Raizers representing the bondholders' mass
* Personal guarantee of Mr. Tremy
* First demand guarantees of SAS L'ORANGE PRESSEE
* Double signature of Raizers on the centralizing account
The bond contract provides for an early redemption if:
* The operator completes the operation before its scheduled maturity
All the documents associated with this fundraising are available in the "documentation" tab.
Mr. TREMY is the only shareholder of all his structures. Nina Milo was recently created to allow Mr. Tremy to start his real estate activity.
After training as a general mason and real estate negotiator, Mr. Tremy became an operations manager in a fitness center. He also spent several years managing hotel establishments during the season. He then launched L'Orange Pressée, trading in foreign-sourced citrus fruits and providing juicers to promote the brand.
L'Orange Pressée, which brings its First Demand Guarantee for regulatory reasons, has no direct capital link with Nina Milo.
Financial elements of Nina Milo
Financial elements of L'Orange Pressée