Creation of OPCIs: drafting of prospectus and by-laws in accordance with OPCI regulations, submission to the AMF for approval, management of property valuations from real estate appraisers, registration of the OPCI with the French Commercial Court Registry (Tribunal de Commerce), etc.
Overseeing the day-to-day administration of the OPCI
Calculations & Reporting: calculation of OPCI’s Net Asset Value (NAV), calculation of different ratios, AIFM reporting, follow-up of the OPCI’s expenditures, cash management, etc.
Management of Specific Operations: transfer of shares, capital increases and decreases, change of custodian, property acquisition or sale, dividend distribution requirements, etc.
WHAT IS AN OPCI ?
An OPCI (Organisme de Placement Collectif Immobilier) is a mutual investment scheme specifically used in the real estate industry and regulated by the French Financial Markets Authority (AMF).
Characteristics of OPCIs: – They are regulated by the AMF – They provide structured legal and regulatory frameworks aligned with E.U. standards established by the AIFMD (Alternative Investment Fund Managers Directive) – The AMF requires external controls (custodians, real estate appraisers, etc.) of the OPCIs to ensure trust between differing interests
– Optimized tax-efficiency of OPCIs, notably: • 0% Corporate Income Tax • distributions > 85% of net recurring income • distributions > 50% of net capital gain proceeds
CLEAVELAND is an AMF-regulated Real Estate Investment Management company (AMF authorisation no. GP10000005) with substantial experience in developing and managing OPCIs – and more specifically, OPPCIs (OPCIs reserved for professional investors only).