{"id":3311,"date":"2021-10-26T07:39:13","date_gmt":"2021-10-26T07:39:13","guid":{"rendered":"https:\/\/www.rock-n-data.io\/?p=3311"},"modified":"2023-06-05T14:00:06","modified_gmt":"2023-06-05T14:00:06","slug":"les-scpi-qui-ont-le-mieux-utilise-ou-non-leffet-de-levier","status":"publish","type":"post","link":"https:\/\/www.rock-n-data.io\/fr\/les-scpi-qui-ont-le-mieux-utilise-ou-non-leffet-de-levier\/","title":{"rendered":"Les SCPI qui ont le mieux utilis\u00e9 (ou non) l\u2019effet de levier"},"content":{"rendered":"<div class=\"ffb-id-pk3copb fg-paragraph ff-richtext text-center    fg-text-dark\"><p><\/p>\n<p style=\"text-align: left\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">En 2020, l'endettement total des SCPI de rendement a &eacute;t&eacute; de <\/span><\/span><\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">7,97 milliards d'euros<\/span><\/span><\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> . <\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Cette somme est en progression par rapport &agrave; celle de 2019 de <\/span><\/span><\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">16,53%<\/span><\/span><\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> .<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">En moyenne, les SCPI ont donc &eacute;t&eacute; endett&eacute;es de <\/span><\/span><\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">17,71%, soit 221 millions d'euros par SCPI<\/span><\/span><\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> . <\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Cependant ces chiffres sont tr&egrave;s h&eacute;t&eacute;rog&egrave;nes au sein des SCPI. <\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Par exemple, 15 SCPI ne sont pas endett&eacute;es pendant que 12 sont endett&eacute;es &agrave; plus de 30% (limite fix&eacute;e &agrave; 40% par l'AMF). <\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Nous avons donc d&eacute;cid&eacute; de mettre en avant celles qui ont le plus perform&eacute; en termes de rendement compte tenu de leur endettement. <\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Nous avons donc fait un classement des 3 meilleures SCPI qui ne sont pas endett&eacute;es et un autre classement pour celles qui sont le plus endett&eacute;es.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">La tendance qui se d&eacute;gage est que les SCPI qui ne s'endettent pas performent le mieux. <\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">On pourrait pourtant penser l'inverse avec l'effet de levier qui pourrait multiplier les rendements, mais les trois SCPI non endett&eacute;es pr&eacute;sentent des rendements &eacute;lev&eacute;s li&eacute;s &agrave; la <\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">situation &eacute;conomique<\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> . <\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">En effet la SCPI Atlantique Pierre 1 et la SCPI Actipierre 2 sont des SCPI &agrave; capital fixe. <\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Avec la crise de 2020, le prix de leur part sur le march&eacute; secondaire a baiss&eacute;, ce qui a augment&eacute; leur rendement. <\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Pour la SCPI Activimmo, la situation est bien diff&eacute;rente. <\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Cette jeune SCPI s'est &eacute;tablie sur le secteur de la logistique qui a connu une forte croissance et permet donc &agrave; la soci&eacute;t&eacute; de gestion Alderan d'afficher un tr&egrave;s bon taux de distribution.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<h2 class=\"wp-block-heading\" style=\"text-align: left\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Classement pour les SCPI qui ne sont pas endett&eacute;es :<\/span><\/span><\/span><\/span><\/strong><\/h2>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Parmi les 15 SCPI non endett&eacute;es, nous avons d&ucirc; en choisir 3 plus performantes, voici notre classement.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">1. SCPI Atlantique Pierre 1 (PAREF Gestion)<\/span><\/span><\/span><\/span><\/strong><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Pour cet exercice 2020, la SCPI Atlantique Pierre 1 a affich&eacute; un <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">tr&egrave;s beau TDVM de 6,62%. <\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">La SCPI investit principalement dans les murs de commerces, mais se diversifie &eacute;galement avec des actifs de bureaux. <\/span><span style=\"vertical-align: inherit\">Elle compte aujourd'hui <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">27 actifs<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> lou&eacute;s &agrave; <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">95 locataires<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> , ce qui lui permet d'obtenir un <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TOF de 88,30%. <\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Cette SCPI a &eacute;t&eacute; cr&eacute;&eacute;e en 1986 ce qui a permis de r&eacute;aliser historiquement de belles acquisitions immobili&egrave;res dans les conditions du march&eacute; plus avantageuses qu'&agrave; l'heure actuelle.<\/span><\/span><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">2. SCPI Activimmo (Ald&eacute;ran)<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Comme nous vous l'avons indiqu&eacute; pr&eacute;c&eacute;demment, la SCPI met sur les actifs de logistique de fa&ccedil;on quasi &eacute;gale entre les R&eacute;gions et l'Ile de France. <\/span><span style=\"vertical-align: inherit\">Cette typologie immobili&egrave;re particuli&egrave;rement recherch&eacute;e en ce moment qui surperforme les classes d'actifs concurrents (bureaux, commerces...) permet &agrave; la SCPI d'afficher des performances honorables sans faire recours &agrave; l'endettement. <\/span><span style=\"vertical-align: inherit\">Activimmo compte aujourd'hui <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">23 actifs<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> lou&eacute;s &agrave; <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">44 locataires<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> . <\/span><span style=\"vertical-align: inherit\">Son TOF est de <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">99,30% ce qui est excellent<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> et qui lui assure des revenus sur le court terme. <\/span><span style=\"vertical-align: inherit\">En 2020, son <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TDVM &eacute;tait de 6,05%<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> .<\/span><\/span><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">3. SCPI Actipierre 2 (AEW Ciloger)<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">La SCPI g&eacute;r&eacute;e par AEW Ciloger vient compl&eacute;ter ce podium. <\/span><span style=\"vertical-align: inherit\">Sa strat&eacute;gie est d'investir exclusivement dans les actifs de commerce dans la r&eacute;gion parisienne, et qui lui offre un <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TOF de 94,28%<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> au 30\/06\/2021. <\/span><span style=\"vertical-align: inherit\">Malgr&eacute; le coup de moins bien qu'ont connu les SCPI Commerce en 2020, Actipierre 2 a r&eacute;ussi &agrave; <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">mieux performer<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> et a pr&eacute;sent&eacute; pour 2020 un <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TDVM de 5,22%<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> . <\/span><span style=\"vertical-align: inherit\">Les performances li&eacute;es aux acquisitions historiques se sont r&eacute;alis&eacute;es ainsi qu'une baisse de prix moyen de part sur le march&eacute; secondaire.<\/span><\/span><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<h2 class=\"wp-block-heading\" style=\"text-align: left\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Et pour les SCPI les plus endett&eacute;es :<\/span><\/span><\/strong><\/h2>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">1. SCPI Coeur de R&eacute;gions (Sogenial)<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Premi&egrave;re de notre classement des SCPI endett&eacute;es, la SCPI C&oelig;ur de R&eacute;gions affiche un <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">LTV de 33,29% fin 2020<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> . <\/span><span style=\"vertical-align: inherit\">Ce n'est pas celle qui a le LTV le plus &eacute;lev&eacute; mais celle qui a le mieux exploit&eacute; son endettement pour afficher un <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TDVM pour l'ann&eacute;e 2020 de 6,30%<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> . <\/span><span style=\"vertical-align: inherit\">La SCPI mise sur la diversification en investissant autant sur les commerces que sur les bureaux et &eacute;galement sur les locaux d'activit&eacute;s. <\/span><span style=\"vertical-align: inherit\">Comme son nom l'indique, la SCPI Coeur de R&eacute;gions acquiert des actifs dans les r&eacute;gions fran&ccedil;aises, et une partie en Ile de France. <\/span><span style=\"vertical-align: inherit\">Elle compte aujourd'hui <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">24 actifs<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> pour <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">81 locataires<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> et un <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TOF de 96,20%.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">2. SCPI Eurovalys (Advenis REIM)<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">La SCPI Eurovalys investit uniquement en Allemagne dans des actifs de bureaux. <\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Elle profite donc des opportunit&eacute;s dans la <\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">premi&egrave;re &eacute;conomie europ&eacute;enne<\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> et profite des <\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">accords fiscaux<\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> entre la France et l'Allemagne pour distribuer des dividendes aux associ&eacute;s qui seront exon&eacute;r&eacute;s de charges sociales et imposables seulement d'un faible montant. <\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Le <\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">LTV de la SCPI s'&eacute;l&egrave;ve &agrave; 29,50%<\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> et d'un <\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TDVM de 4,50%<\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> pour l'ann&eacute;e 2020. Au 30 juin 2021, elle affiche un <\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TOF de 94,14%<\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> pour ses <\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">27 actifs allemands<\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> .<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">3. SCPI Altixia Commerces (Altixia REIM)<\/span><\/span><\/span><\/span><\/strong><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><\/p>\n<p style=\"text-align: left\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">La SCPI Altxia Commerces cl&ocirc;t la marche de ce podium. <\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">La toute jeune SCPI est endett&eacute;e &agrave; hauteur de <\/span><\/span><\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">28,91%<\/span><\/span><\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> pour afficher un <\/span><\/span><\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TDVM de 5,03%<\/span><\/span><\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> en 2020. Elle acquiert principalement des actifs commerciaux en r&eacute;gions, en Ile de France et &agrave; Paris. <\/span><\/span><\/span><\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Elle poss&egrave;de aujourd'hui <\/span><\/span><\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">9 actifs<\/span><\/span><\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> pr&eacute;sentant un TOF de <\/span><\/span><\/span><\/span><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">95,90%,<\/span><\/span><\/span><\/span><\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> et compte bien agrandir son parc immobilier puisqu'elle r&eacute;ussit &agrave; faire cro&icirc;tre sa capitalisation &agrave; chaque collecte trimestrielle.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><\/p><\/div><style><\/style><script type=\"text\/javascript\"><\/script>","protected":false},"excerpt":{"rendered":"<p>En 2020, l\u2019endettement total des SCPI de rendement a \u00e9t\u00e9 de 7,97 milliards d\u2019euros. Cette somme est en...<\/p>\n","protected":false},"author":6,"featured_media":3312,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2],"tags":[13,48],"class_list":["post-3311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-non-classifiee","tag-etudes-de-marche","tag-les-tops","post-wrapper"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Les SCPI qui ont le mieux utilis\u00e9 (ou non) l\u2019effet de levier<\/title>\n<meta name=\"description\" content=\"D\u00e9couvrez les SCPI : ma\u00eetrise de l&#039;effet de levier ! 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