The SCPI Primopierre and Primovie of Primonial Reim saw the prices of their shares fall by 6.7% and 8.9% respectively. A not isolated case. Since last summer, around fifteen SCPIs have suffered drops in their net asset value.
New alert for SCPIs. It is Primonial Reim’s turn to reduce the prices of the subscription shares of its SCPI Primopierre and Primovie. The price of shares in the Primopierre office SCPI falls by 6.7% after having already fallen by 13.5% last September. The value of the share of the SCPI Primovie, invested in the health sectors (Ehpad, clinics, senior residences) and education (nurseries, schools) fell by 8.9%. These price reductions, based on the appraisal values as of December 31, 2023, were carried out on February 13.
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SCI Primonial also in difficulty
Primonial Reim’s SCIs, accessible within life insurance contracts, are also experiencing a drop in their values: Capimmo and Cap Santé. Capimmo cashes a -9% drop in “net asset” value of its buildings (-20% since September). A sale plan of 2.2 billion euros was put in place to resolve the liquidity problem. According to a news note on its two SCIs sent by Primonial REIM to its partners that The echoes were able to obtain, Capimmo sold for 230 million euros of assets.
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Regarding SCI Cap Santé, “the integration of the appraisal values of the 4th quarter of 2023 (around -4%), increased by the leverage effect (around -2%), impacts the net asset value (.. .) which should settle at -5.47% since January 1,” Primonial indicated to its partners, further reports The echoes.
Rental real estate: the price of shares in these SCPIs plummets by 10%
The case of Primonial is far from isolated. Since last summer, no less than 15 SCPIs have announced falling valuations. Among the latter, we can notably cite Accimmo Pierre from BNP Paribas REIM (-17%), PFO2 (-16.3%), PF Hospitalité Europe (-9.5%) or even Elysées Pierre from HSBC (-7%). , Génépierre (-17%) and Edissimo (-13.9%) from Amundi. These real estate funds, massively invested in offices, are suffering from the market downturn. The fall in asset values has led to a wave of exit requests from savers with 2.1 billion euros of shares pending at the end of December.
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