Actualité Fonds immobiliers : la meilleure option pour bâtir l’après-coronavirus ?

Faced with the current health crisis, any investor, whether institutional or professional, must keep a cool head. The time is right to take stock of the financial situation of its clients. How can we properly prepare for the future, which may be marked by a serious economic recession? How to make the money of its customers work best to compensate for any loss of income elsewhere? Among the different investment formulas likely to improve purchasing power is a relevant, simple and meaningful solution: investing in a real estate fund.


Even if the real estate fund, like any investment, involves some risk (risk of loss of capital and liquidity risk), it has many advantages over other forms of investment. Unlike the economic cycle, the real estate cycle is much longer and significantly less volatile. Unlike financial markets which are more prone to react immediately to an irrational rise or fall in equities or to external events as was the case with the coronavirus, the real estate market is connected to the real economy and is more resistant to recessive waves.

What to choose: OCPI, SCPI or FIA in Real Estate?

Designed to offer as much long-term stability as possible, real estate funds are one of the best options for building the post-coronavirus, but you still have to know which one to choose. There are currently three main types of real estate investment: the Collective Real Estate Investment Organization (OCPI), the Civil Society of Real Estate Placement (SCPI) and the Alternative Investment Fund (FIA) in Real Estate. Unlike the other two categories, OCPIs are not exclusively real estate vehicles. They hold at least 60% of real estate assets, the rest being divided between a liquidity pocket (between 5 and 10%) and securities. SCPIs most often invest in a specific real estate sector, generally offices and shops. Real Estate AIFs, on the other hand, aim for a diversified portfolio with secure income. But the differences between the three vehicles do not end there! The comparative table below shows the main characteristics of each.
 

Diversification, a major asset in performance

 However, in view of the current context where the massive wave of confinement has given a boost to the practice of teleworking and the use of e-commerce, the under-occupation of commercial premises and the decrease in investments dedicated to office rental is likely to increase in the years to come. Traditional real estate funds will be the first to suffer in the medium term from the consequences of the health crisis. It is therefore better to bet on real estate funds that have been able to implement both geographic and sectoral diversification ahead of this crisis.

This is the approach adopted by AIFs in Real Estate, such as Cacik Fund [1] proposed by Unik Capital Solutions. In addition to respecting the fundamentals - location, quality of tenants and a long-term firm lease - Cacik Fund is distinguished by very extensive diversification and great flexibility. The fund only selects sectors whose studies have demonstrated their stability, namely local food stores, e-commerce logistics and nursing homes, intended in particular to accommodate elderly people in a situation of loss of autonomy. When one of the sectors is hit by a crisis, the fund, thanks to agile decisions by its investment committee, is able to quickly rebalance the portfolio.

Thus, following the coronavirus pandemic, projects in the tourism industry remain studied but in a very opportunistic manner and the focus is on the three other sectors of activity which have proven their resilience throughout this crisis.

 


[1] Cacik Fund SCA SICAV-FIAR is offered by Unik Capital Solutions and managed by an AIFM in Luxembourg.






Do you want to know more about Cacik Fund and its first Unik Premium compartment as well as our other unique real estate investment solutions? Contact us!