Norma Capital funds reached nearly €700 million in capitalization in 2022


(Boursier.com) — In 2022, Norma Capital increased the assets of its two SCPIs, Vendôme Régions and Fair Invest, to more than 300,000 m(2) for a total capitalization approaching 700 million euros. In the 4th quarter of 2022, the management company acquired 13 new assets (10 for Vendôme Régions and 3 for Fair Invest). 153 assets are now managed by Norma Capital.

Vendôme Regions: one of the most important diversifications on the market

In the 4th quarter of 2022, Vendôme Régions continued to develop its portfolio with 10 new acquisitions, for 114 million euros, bringing the number of assets acquired over the year to 33.

These new assets are divided between the different classes targeted by the SCPI:
-Offices: 10,266 m(2) in Massy (91) with 9 tenants, 6,369 m(2) in Créteil (94) leased by Safran, 4,227 m(2) in Nice (06) occupied by 10 tenants, 1,938 m (2) in Lattes (34) for the Asics brand and 4,804 m(2) acquired off-plan in Toulouse (31);
– Retail: 1,481 m(2) occupied by a Tesla Store in Plaisance-du-Touch (31);
– Activities: 6,631 m(2) in Mondeville (14) leased to But International, 2,647 m(2) in Vénissieux (69) occupied by 5 tenants, 3,510 m(2) in Ecully (69) with 7 tenants in place and 4,835 m(2) leased to Orange in Fleury-les-Aubrais (45).
The capitalization of Vendôme Régions reached 633.8 million euros, with 126 buildings in the portfolio hosting 298 tenants. In 2022, the partners of the SCPI benefited from a distribution rate of 5.71%. The financial occupancy rate (TOF) of the SCPI is 97%.

“Vendôme Régions’ performance is based on its wide diversification in terms of both asset class and geographic location. Our strategy, focusing on both profitability and the potential for capital gains, enabled us to revalue, last May, 2.29% the share of the SCPI, to reach 670 euros. This revaluation allows Vendôme Regions to post a real performance of 8% for 2022”, indicates Faïz Hebbadj, president of Norma Capital.

Fair Invest: a strategy validated again

Pursuing its investment strategy oriented towards socially useful sectors of activity, Fair Invest, labeled SRI Real Estate from November 2020, proceeded during the year 2022 to the acquisition of 9 assets, including 3 in the 4th quarter, to a total amount of 3.7 million euros. All of its acquisitions respond to the unique positioning of Fair Invest: very attentive to the use of its premises, it promotes the uses of health, education and social utility.

Transactions in the 4th quarter relate to 270 m(2) leased to a Babilou crèche in Aubagne (13), a 1,214 m(2) Fitness Park in Rennes (35) and 215 m(2) of offices in Limonest (69) , leased to IPEM (pharmaceutical engineering). During the quarter, the SCPI was also delivered, as part of its partner with MedCorner City, a 415 m(2) medical practice in Villeneuve d’Ornon (33).

With these acquisitions, the capitalization of the SCPI reaches 62.7 million euros for 27 buildings with 30 tenants. In 2022, Fair Invest distributed 4.72% to its partners, with an annual dividend of 9.43 euros/share. SCPI’s TOF is stable at 100%.

“Fair Invest’s results over the years demonstrate the merits of its innovative investment strategy in our sector. Once again, the returns offered this year are in line with our investment and growth objectives”, says Faïz Hebbadj.

Launch of the European SCPI NCap Continent

Building on the success of these two SCPIs and wishing to complete its range, Norma Capital launched in January 2023, NCap Continent. This European SCPI targets tertiary assets, mainly offices, shops and business premises, in the United Kingdom, Germany, Spain and Poland.

Strongly claiming the SRI Immobilier label, this new SCPI follows, by investing on the European continent, a strategy of diversification inside and outside the Euro zone, allowing it to offer a different tax system.

“In a complex environment, NCap Continent allows us to offer our partners investments that meet their expectations from both a heritage and a societal point of view. We are aiming for a good inflow from the first year and are moreover, We are already in the positioning phase on the first assets. As with our other SCPIs, in order to maintain good performance, we will continue to apply an investment strategy combining growth, diversification and asset valuation”, concludes Faïz Hebbadj.



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