But what is so attractive about real estate companies (SCI)? Of negligible weight in real estate savings a few years ago, these products marketed exclusively through life insurance have met with phenomenal success.
SCIs have great freedom of management: they can invest in all types of real estate assets, directly or through other products – their portfolios include real estate investment companies (SCPIs), collective investment in real estate (OPCI), direct real estate, property shares, etc.
Launched in 2007, SCI Capimmo (Primonial REIM) dominated the market for a long time. With its 7.4 billion euros in assets, it still acts as a heavyweight, even if the novelties have multiplied in recent years. “We see a lot of thematic SCIs appearing, each management company tries to attack the market with an entry pointobserves Antoine Depigny, head of development at Primonial REIM France. At the end of 2021, we also created a health-themed SCI, Cap Santé, which got off to a very good start. » In this field, the company joins Euryale AM, which offers the SCI Trajectoire Santé.
In October 2022, Novaxia went a step further with Novaxia Vista, a unit of account intended for investing “in real estate for life sciences and technologies of the future”indicates its manager, ie laboratories, research centers, incubators… Last April, it was the turn of the young company Iroko to release its SCI. “Iroko Next aims to address two real estate performance drivers: yield and value creation through asset restructuring”relates Pierre-Antoine Burgala, Development Director of Iroko.
For its part, BNP Paribas REIM has opted for impact with Pierre Impact, a residential SCI aimed at responding to societal challenges. We should also mention Arkéa REIM’s new SCI Territoires Avenir, dedicated to real estate in the territories.
Limited entry fees
This dynamism is explained because the SCI meets the expectations of savers, while satisfying the constraints of insurers. On the retail side, SCIs have been a perfect receptacle for investing with moderate risk while generating a performance significantly superior to that of funds in euros.
Finally, these products have been designed for life insurance, which makes them more practical to use than SCPIs. In fact, rents are capitalized in the fund, so there is no need to regularly reinvest its dividends.
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