Advenis REIM has just launched a new French fund or SCPI called Eden, which aims to democratise access to real estate investment. Jean-François Chaury, managing director of the asset management company, confirmed the move to sister publication Business Immo and described it as "a key step".
"With this real-estate fund, we aim to democratise access to real-estate savings in Europe", he said, adding that it has a no-fee digital subscription and starts from €50.
"Eden is the fruit of our reflection on the demand and behaviour of new savers," added Rodolphe Manasterski, the chief operating officer of Advenis. "These new savers, particularly young professionals, want to take control of their finances and prepare for their future with peace of mind; they are sensitive to entry fees, share prices, digitalisation... They invest regularly, but with smaller amounts. With Eden, we wanted to build a product that meets their needs."
With this new SCPI, which received approval on 26 November, Advenis REIM will invest in major economic and regional cities throughout Europe, and initially in Scandinavia, the UK and Benelux, "regions that have seen strong price adjustments in recent years, and which represent a favorable entry point for investors", according to Chaury.
The management company, which has two other SCPIs (called Eurovalys and Elialys), will implement a "diversified" and "balanced" sector strategy, through the acquisition of core-plus assets in the hotel, office and education segments, as well as through sale & leaseback operations.
"Our expertise in the selection, investment and management of real estate assets, thanks to the Group's local teams, are real differentiating assets at the service of performance", said Chaury.
In terms of performance, Eden is targeting a 10-year internal rate of return of 7.44% and a gross yield of 6.5%. "We're not going to play in the 8-10% yield league," he added. "We're building our profitability for the long term."
By 2025, Advenis aims to raise between €30 and €50 million for its new vehicle, for investments ranging from €3 million to €10 million, with possible recourse to debt.