Good value-for-money analysis of the properties and management of the SCPI CORUM XL diversified group that paid an average annual dividend of 6.45% from 2017 to 2021

It was launched at the end of 2016, Corum XL he is here second SCPI fired by Corum Savings Groupafter CORUM Origin in February 2012. Like its older sister, CORUM XL is a Diversified productivity sustainable intensification of crop production with one A very strong international oriented investment policy, taking into account two characteristics :

  • CORUM XL does not own any assets in France; 98% of its portfolio is based in Europe excluding Franceand this is in 11 countriesincluding 3 major investments that represent 84% of its investments:
    • United kingdom: 47% end of 2021Compared to 53% at the end of 2020,
    • Bologna: 28% end of 2021Compared to 25% at the end of 2020,
    • Ireland: 9% end of 2021compared to 4% at the end of 2020,
  • CORUM XL has an acquisition in Canada In Mont Saint Helier who weighs 2.6% of its assets.

The CORUM XL INVESTMENT POLICY It is intended to combine the whole set of elements when making an acquisition:

  • give priority to sector diversificationDon’t put all your eggs in one basket.
  • Focus on acquiring Real estate that allows immediate rental (often without a business), sometimes with the tenant in place (or the previous owner choosing to sell the property while the owner remains).
  • searching for Assets that are likely to achieve the expected return from sustainable intensification of crop productionWhich in fact leads to a certain amount of caution regarding the real estate market in France as it has proven difficult to look for high returns.
  • signed Long-term lease contracts with strong companiesWhether they are large domestic or international companies, private or public.
  • take advantage of Courses for each foreign currencyIn order to be able to benefit, if necessary, from the positive effect of the exchange rate.
  • foreign exchange diversification in which the acquisitions are made, in order to distribute the exchange risk. Thus CORUM XL is positioned on:
    • poundAnd
    • Polish zlotyAnd
    • norwegian kroneAnd
    • Canadian dollarAnd
    • euro.

in this time, CORUM XL has made investments in real estate that allow immediate leasing. Other SCPI indicators analyzed or rated by good value for money choose to acquire, where appropriate, off-plan assets (sale in the event of future completion), which requires financial support throughout the construction period up to the actual rent.

Since its establishment in December 2016, CORUM XL has experienced Strong growth momentumAnd About 300 million euros a year.

The CORUM XL capitalization who is he 1.2 billion euros by the end of 2021. The number of partners From sustainable intensification of crop production is also growing vigorously. end of 2021CORUM XL has approximately 30,000 colleagues to Average investment of 40,560 euros.

At the end of 2021, it was rental area CORUM XL EXCEEDED 500,000 square meters. By relating the real estate income of SCPI (ie 90 million euros in 2021) to the average leasable space in CORUM XL during the same year, Average real estate product who is he 178 euros per square meter.

The main advantages of CORUM XL

  • risk diversification policy sustainable intensification of crop production, in terms of:
    • from property type Acquired: offices, shops, commercial premises,
    • from country Based on investment areas: UK, Poland, Ireland, Norway, Italy… and even across the Atlantic in Canada since December 2020.
  • High rate of profit (TDVM) Paid by CORUM XL Since its inception, it is:
    • 5.84% in 2021And
    • 5.66% in 2020.
    • 6.26% in 2019And
    • 7.91% in 2018And
    • 6.58% in 2017.
  • Quality management of sustainable intensification of crop production Having made it obtainable since its launch at the end of 2016:
    • a Financial occupancy rate (tove) 99.5 to 100%And
    • a physical occupancy rate (Top) 98.5 to 100%.
  • Average term remaining at the end of 2021 Lease contracts were signed with various tenants from 6.5 years.
  • Quality of property tenants in CORUM XL In addition, there are direct links between the SCPI managers and the aforementioned tenants. This policy in particular has made it possible to deal directly and quickly with rent modification requests submitted in 2020 and 2021 by some tenants in the wake of the COVID-19 crisis and back-to-back reservations.

The main disadvantages of CORUM XL

  • Risks of a downward change in exchange rates For commodities purchased in foreign currencies (eg: British Pounds or Canadian Dollars), noting that this risk is clearly integrated by SCPI managers and that they place their acquisitions on periods when the foreign exchange is low.
  • The relative weight is still relatively high for some real estate assets In the origins of SCPI, knowing that this is inherent in the modern nature of the CORUM XL construction and that the “big” acquisitions that have been made are gradually toned down.
  • Possible rental risks for offices or shops Because of the economic and political context in Europe, stressing that these risks are common in the entire market.

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