The Real Estate Operation

Lend Real Estate structures a property trading operation located in Conflans-Sainte-Honorine, in the Yvelines, about 35 minutes from Paris and connected to La Défense via the RER A.

The project involves the rehabilitation of a real estate complex of about 400 m² located in the city center, in the Old Conflans district, with a value creation strategy through transformation and resale by unit.

The operation is based on a value-add strategy, aiming to create 6 housing units intended to be sold separately.

Presentation of the real estate operation

The asset is located at 16 rue Félix Faure in Conflans-Sainte-Honorine, on a 302 m² plot currently comprising a residential house and an activity building.

A building permit cleared of all appeals has been obtained for the transformation of the entire property into 6 housing units.

The strategy is to carry out the work and then sell the units as raw concrete, allowing:

• Reduced execution times
• Optimized margin
• More favorable taxation (excluding VAT on margin)

Operation Structure

Lend Real Estate structures and manages the operation through a dedicated SPV (Lend Kerias Two), in partnership with a property trader with over 10 years of experience and many successfully completed projects.

Investors participate via bonds, with a fixed annual return of 10%, over a target duration of 12 months.

Interest is distributed weekly, directly through the Lend app.

Key Deal Points

• Central location in a dynamic town of 36,000 inhabitants
• Attractive price per m² in the Old Conflans area
• Small unit typology facilitating resale liquidity
• Cleared permit, greatly reducing administrative risk
• Raw concrete strategy enabling fast execution

Pre-Sales Phase

A pre-sales strategy is implemented alongside project progress, aiming to secure a significant portion of sales before delivery.

At this stage, market feedback is very positive, with advanced discussions on all units. Interest focuses especially on the property types and price positioning, aligned with local demand.

The goal is to complete pre-sales within about 3 months, thus reducing commercial risk and improving visibility on the operation's exit.

New Lot Structuring for Resale Optimization

Guarantees and Alignment of Interests

Lend does not act as a simple intermediary but directly operates projects on its own account, ensuring structural alignment with investors.

The operation is carried out through a dedicated SPV, in which Lend Real Estate SA holds 51% of voting rights, ensuring control over strategic and operational decisions throughout the project.

This positioning guarantees full control of execution, from acquisition to asset resale.

Risk Management

Several elements help frame the operation's risk.

The building permit is already obtained and cleared of all appeals, greatly limiting administrative risk. The asset is located in an established area with strong demand for small units, favoring quick sales.

The raw concrete resale strategy significantly reduces construction time and exposure to site risk, while maintaining an attractive margin. The price positioning remains aligned with the local market, with a discount related to the unfinished state of the units.

Finally, the operation is led by an experienced operator with over 10 years of activity and a successful project history, strengthening the project's execution capability