Mathias Flattin on BFM Business: what is the entry ticket to a club deal?
BFM Business invited Mathias Flattin onto Les Experts de l'immo, Marie Coeurderoy's property programme, for a 28-minute discussion on club deals: which ones to choose in 2026, and what it actually takes to join one.
BFM Business invited Mathias Flattin onto Les Experts de l'immo, the property programme presented by Marie Coeurderoy, for a 28-minute discussion broadcast on 31 March 2026. The question on screen was a plain one: which club deals to choose in 2026, and what does it take to enter one.
A club deal gathers a limited number of investors around one identified building, for a defined period. That is its appeal and its discipline at once. You see the asset, the price paid and the work required. You also carry it alone: there is no averaging across a portfolio, so the underwriting, the operating partner and the exit each have to hold on their own merits.
The entry ticket follows from that. It is set by the size of the building and by the number of investors the structure can carry, not by a marketing decision, and it is the first thing to ask about.
This is the logic behind Crayon Bleu, our club deal series: one building in a European capital, acquired below replacement cost, repositioned for a use its city is short of, and sold once stabilised. Each deal is presented with its scope defined and costed before acquisition, not after.
Crayon Partners S.A.S. is a financial investment adviser registered with ORIAS under number 24004502 and is not the management company of any fund. Nothing here is an offer or an investment recommendation.
