🏨Primary market

What Is the Primary Market?

The primary market on Lend is the gateway for users to access newly structured real estate investment opportunities, before they are active or producing returns. It is the phase during which a project is opened for funding by the community.

When a new operation is listed, it means the asset has been sourced, audited, and structured by our real estate partner Sate, and is now ready to be financed. This is the only moment where users can participate at the base price, and secure their position from day one.

Once a project reaches 100% of its funding goal, it transitions to the next phase: execution, acquisition, and income distribution. If the funding target is not reached by the end of the fundraising period, all users are automatically refunded their investment.

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What Makes a Primary Market Deal?

Each deal in the primary market includes:

• A dedicated SPV, legally created to acquire and manage the specific asset

• A full financial model, including projected yield (APR), rental strategy, expected duration, and costs

• A DIS (Document d’Information Synthétique) filed with the French AMF (French Financial Markets Authority) prior to launch

• A downloadable risk report, sourced and structured by Sate.

• Onchain infrastructure for token issuance, legal signature, and yield distribution

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Why It Matters

Participating in this phase gives you early access to exclusive real estate operations, most of which are off-market, meaning they are not publicly listed or available through traditional platforms. These deals often feature higher return potential and are sourced through local expert networks.

Once the round is closed, no additional capital can enter. From there, your investment is formalized onchain, and yield distribution starts according to the performance of the underlying asset.