Vendôme Capital Partners

Vendôme Capital Partners

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The main object of the OPCI (French property regulated fund) is the investment in buildings rented to third parties or buildings constructed exclusively in order to be rented. They can be owned directly or indirectly, including buildings bought before completion. this investment includes any operation necessary for use or resale, the realization of works of any nature in those buildings and, secondarily, the management of financial and deposit instruments.

Defined by the French decree of October 13th 2005, the OPCI completes the existing provision on real estate investments (SCI, SCPI, SIIC) for which it offers all the advantages, while being dedicated to a unique investor, without the obligation to be listed. Under the term OPCI, the decree foresees 2 legal forms:

•  the FPI or REIT (Real Estate Investment Trust)
 
•  the SPPICAV (company investing predominantly in real estate)

SCPI and SPPICAV have an essential point in common: they are non-listed funds which, therefore, will not be submitted to fluctuations of financial markets. The SCPI is a legal co-property, with a taxation for private individuals based on real estate incomes, contrary to the SPPICAV, which has an independent legal personality and a taxation for private individuals based on incomes from movable properties.


The OPCI needs the regulatory intervention of several stakeholders

 OPCI

 

Advantages of the OPCI

•  An innovative real estate investments vehicle
•  A strengthened liquidity: the OPCI is a fund open to the issuing or purchasing of shares
•  A soft tax regime that is adapted to its investors’ approach to wealth
•  A boosted real estate management with the possibility of going into debt (leverage effect), disposing of assets,
    indirectly investing in real
    estate assets or holding other financial instruments
•  The portfolio management company in charge of OPCI, which is approved by the AMF, has an obligation of transparency
    concerning management decisions
•  A regulated supervision and securisation through the intervention of several actors.

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