Eco Lodge de l’Etoile d’Argens

Warning

Eco Lodge de l’Etoile d’Argens uses various sources of financing, including bonds from 123IM group, which Olivier Goy (founder and chairman of the management board of October) created and managed until 2014. Olivier Goy is however no longer operational in 123IM and has no impact on fund management. In addition, we recall that October executives (including Olivier Goy) invest systematically and significantly in all projects presented on October in order to align their interests with those of lenders.

Presentation of the company

Created in 1968 and acquired in 2016, Eco Lodge de l’Etoile d’Argens is a 5-star campsite of the same name located near Frejus near the banks of the Argens. The company managed by Pascale Istria employs 30 people, including 15 full-time employees.

The company’s activity is the rental of pitches and the sale and rental of mobile homes.

Camping Etoile d’Argens, which covers 12 hectares, has around 450 pitches and is open from February to December. It is equipped with an aquatic complex, shops and restaurants, a disco and various sports facilities (4 tennis courts, minigolf, basketball court, etc…).

The campsite differs from the competition by:

• Its top-of-the-range positioning: 5-star campsite.
• Its location: It is located halfway between Cannes and St Tropez and close to sandy beaches, natural sites, historical or cultural heritage.
• Its eco-responsible approach: the establishment is classified as an animal protection refuge with its 2ha botanical park; some of the accommodation is 100% organic and the company works on a car-free park.

As part of its development, SAS Eco Lodge de l’Etoile d’Argens acquired in 2018, the camping de la barque, a 3-star establishment and neighbour at its site. This campsite, spread over 3 ha, has 150 pitches and can accommodate up to 450 people. These two establishments merged in July 2019.

The objective was then to bring the two institutions together in order to pool management.

Project description

As part of its development, The company requests 625.000 € to refinance work following the acquisition of land that separated the two campsites. This land will allow the two campsites to be united with the creation of additional pitches.

This project will be realised in the next few months.

This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.

The amount offered on the platform is limited to 306.250€, which is in line with the regulatory limits.