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SCPI Primopierre

Office real estate

ARTICLE

Primopierre: a responsible SCPI invested mainly in offices
ARTICLE

SCPI and office property: a winning combination?

SCPI Primopierre, a portfolio mainly composed of offices

Created in 2008, the SCPI Primopierre is the benchmark SCPI in its market for commercial real estate with a capitalization of over 3 billion euros. It invests on behalf of its clients with a view to potential returns, respecting an objective of diversification between different investments. It is aimed at any investor wishing to invest mainly in the office market in Ile-de-France, with a long-term perspective. The SCPI Primopierre is an SRI-labeled fund.

Primovie label isr

The leading SCPI for office buildings

With Primovie, a leader in health and education real estate, you invest indirectly in socially useful real estate sectors:

  • modern, large-scale office buildings that fully meet the requirements of their corporate tenants
  • office building assets located for the most part in Paris and its ‘First Ring’, a mature and structured market
  • investments sited in the heart of Paris Primopierre benefits from the dynamic of the ‘Grand Paris’ project with its new investment opportunities, which will be highly profitable in the long term with the projected construction of new railway stations in certain urban centres
  • an environmentally friendly approach integrated into both the real-estate investments and the management of existing properties.

Prix SCPI Mieux Vivre votre Argent Primopierre Primonial REIM​​​​​​​​​​​​​​

 

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Primopierre's SRI approach, a "best-in-progress" approach, is :
  • Full integration of environmental issues, from acquisition to management of the building,
  • A non-financial rating of all assets on the basis of a proprietary rating grid comprising 90 indicators grouped into 7 themes,
  • The implementation of improvement plans (load optimization, technological innovations, better prevention of technical incidents, works...),
  • Ongoing dialogue with all stakeholders (property managers, service providers, tenants),
  • A recently signed partnership with Deepki for the strategy of collecting and monitoring energy data from buildings, in a process of continuous improvement of environmental and social quality.
Primopierre démarche ISR

Why invest in Primopierre?

1

Assets mostly including office buildings located in the Ile-de-France, Europe’s largest spread of corporate property

Primopierre capitalises on the dynamic that has been set up in the Paris region, a region located right at the crossroads of all European and global exchanges and Europe’s largest concentration of corporate property; it achieves this by taking all of Paris region’s major investment opportunities into account, such as the 2024 summer Olympic Games and the region’s other major construction and modernisation projects, placing its priorities on the business quarters most sought after by corporate tenants.

2

An essentially recent portfolio including the new requirements of tenant companies

Primopierre is made up of buildings incorporating both numerous services and flexible workspaces thus meeting the new aspirations of employees and 2/3 of which offer environmental performance such as HQE, BREEAM and LEED.

3

A capitalization of more than € 3 billion, enabling it to position itself in assets of significant size

Primopierre is a leading SCPI in its market thanks to a significant capitalization and fundraising volume which allows it to invest in large assets occupied by leading companies (SNCF, Crédit Agricole, PSA, Samsung, etc.), leaders in their sector.

Become an SCPI Primopierre associate

Conditions of subscription to 31/12/2023

Minimum duration of investment : 10 years
3,410,654,400 €
CAPITALISATION
at 31 December 2023
€ 168/share
SUBSCRIPTION PRICE
154,14 €/part
WITHDRAWAL VALUES
10 shares
MINIMUM SUBSCRIPTION
3.64%
INTERNAL RATE OF RETURN (10 years) (2014-2023) THE ANNUALISED INTERNAL RATE OF RETURN FOR THE PERIOD, WITH THE BUYER PRICE FOR THE FIRST YEAR TAKEN INTO CONSIDERATION AS THE STARTING POINT, AND THE EXECUTION PRICE (FIXED CAPITAL SCPI) OR WITHDRAWAL VALUE (VARIABLE CAPITAL SCPI) ON 31 DECEMBER OF THE FINAL YEAR AS THE OUTCOME, AND THE DISTRIBUTED REVENUE BEFORE RELEASE FEE PAYMENT FOR THE PERIOD
4.12 %
DISTRIBUTION RATES The distribution rate is the division of the gross dividend, before withholding tax and other taxes paid by the fund on behalf of the shareholder in France or abroad, paid in respect of year n (including exceptional interim dividends and share of distributed capital gains) by the subscription price on 1 January n.
at 31 December 2023
Primopierre documents
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Past performance is not indicative of future performance.

Customers with pending withdrawal requests in the share register can obtain their rank, as well as the number of shares and the amount pending withdrawal positioned in front of their order in the register, by making a request to the Customer Relations Department via the client space.

Past annual performance of the SCPI Primopierre

This chart shows the fund's performance in percentage loss or gain per year over the last 10 years.
TDVM until 2020 and distribution rate from 2021 onwards

SCPI created in 2008

Past performance is not a reliable indicator of future performance. Markets may evolve very differently in the future.
This chart can help you assess how the fund has been managed in the past.

The market value distribution rate (MVD) is a performance indicator over an accounting period (year). It is the gross annual dividend, before compulsory withholding tax, paid in respect of year n (including exceptional interim dividends and share of distributed capital gains), divided by the average share price in year n.

The payout ratio is an indicator of performance over an accounting period (year). It is the gross annual dividend, before withholding tax and other taxes paid by the fund on behalf of the shareholder, paid in respect of year n (including exceptional interim dividends and share of distributed capital gains), divided by the subscription price on January 1 of year N. This does not allow for comparison with the TDVM, the market value distribution rate, calculated in previous years.

1 - Risk factors

Prior to any subscription, please refer to the articles of association, information memorandum and DIC available, in French on the website. You will also find details of all fees and commissions on the subscription conditions page.

Risque en revenu et en capital

2 - Income and capital risk

The potential income of the SCPI may vary upwards or downwards, as may the withdrawal value of the unit. SCPIs carry a risk of capital loss. Units purchased in bare ownership do not entitle the holder to any income.

Risque de liquidité

3 - Liquidity risk

Liquidity risk may arise from (i) large redemptions on the liabilities side, (ii) the difficulty of disposing of physical Real Estate Assets quickly, as the real estate market may offer less liquidity in certain circumstances, or (iii) a combination of both. The liquidity of SCPI units is not guaranteed by the management company. As this investment is invested in real estate, it is considered to be illiquid and should be considered on a long-term basis. In the event of dismemberment, the possibilities of withdrawing or selling units are limited or non-existent. Holders of stripped units are advised to retain their rights throughout the stripping period.

Risque de marché

4 - Market risk

The potential income of the SCPI as well as the value of the units and their liquidity may vary upwards or downwards depending on the economic and property situation..

Risque de durabilité

5 - Sustainability risk

A sustainability risk is an environmental, social or governance event or condition that, if it occurs, could have a material adverse effect, actual or potential, on the performance of the investment. Damage due to the realisation of sustainability risks may result in repair costs or physical inability to occupy the premises, which would result in a loss of rent. Such damage may deteriorate the value of the asset or make its disposal more difficult or impossible. The consideration of these risks is detailed in the appendix to the information note.

Risque lié à l'endettement

6 - Debt risk

The SCPI may use debt up to a limit of 40% of the value of its real estate assets. The amount received in the event of a withdrawal is then subject to the repayment of the loan by the SCPI.

Risque lié à l'achat à crédit de parts de SCPI

7 - Risk associated with the purchase of SCPI units on credit

If the income from the shares purchased on credit by the partner is not sufficient to repay the loan, or if the price falls when the shares are sold, the subscriber must pay the difference.

Risques liés à des investissements dans des actifs immobiliers

8 - Risks related to investments in real estate assets

Variations in the property market may lead to significant variations in the value of buildings, as may changes in the rental market (risk of vacancy or non-payment) and the level of technical performance of buildings. The SCPI may also engage in development transactions (property development contracts) and VEFAs, which may expose it to the following risks

  • Risks of default by the developer, main contractor, general contractors, etc.
  • Risks of deferred collection from the time of completion of the building and its rental. The SCPI will therefore bear the rental risks normally associated with such assets.

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SCPI Primopierre key figures

34,836
ASSOCIATES
86.3 %
FINANCIAL OCCUPATION RATE The financial occupancy rate expresses the share of rents, invoiced occupancy indemnities and rental compensation indemnities in the total billable rents, assuming that all of the SCPI's assets were rented. This rate is measured on the last working day of the past calendar quarter for the three months making up that quarter.
667,572
M2 MANAGED
75
ASSETS
387
LEASES
1 Source: Primonial REIM France at 31 december 2023.
REAL-ESTATE ASSETS
GEOGRAPHICAL DISTRIBUTION
Offices
Mixed offices/retail
Source: Primonial REIM France at 12/31/2023 - as a % of the market value of the asset
Parisian region
Paris
Regions
Source: Primonial REIM France at 12/31/2022 - as a % of the market value of the asset

Primopierre's investments

Primopierre is largely constituted of modern properties located mostly in Paris and its region’s business quarters, and benefiting from the business dynamic that has been set up within the region. These properties all meet modern business requirements in terms of environmental performance, services, workspace flexibility and are of great interest to major users who are seeking to rationalise their surface usage and costs.

Previous investments are not a reliable indicator of future investments.

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Sakura
Offices

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Offices

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Paris 15, France
West Plaza
Offices

West Plaza

Colombes, France
In&Out
Offices

In&Out

Boulogne-Billancourt, France
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    There is a risk of capital loss that may be caused by fluctuations in property markets and/or currency exchange rates. Revenues are not guaranteed, they may rise or fall depending on how the trust performs. An SCPI is a long-term investment with a recommended investment period of 10 years. Liquidity is limited, the management company cannot guarantee the resale of shares. Past performances are not an indication of future performance.

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