SPPICAV

AcronymDefinition
SPPICAVSociété de Placement À Prépondérance Immobilière À Capital Variable (French: Society of Real Estate Investment for Dominance in Capital Variable)
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Following a first call for tenders, the state has selected the consortium comprising Societe Nationale Immobiliere (Sni) and its subsidiary AMPERE Management to undertake the tasks of (i) creation of the SPPICAV, (ii) the investment management company (fund management) and (iii) establishment and management of the portfolio of assets (asset management).
Total quantity or scope: Rental management services of real estate of SPPICAV, which will be gradually built up from 2016 and will include, upon completion of the framework agreement, about 6,000 intermediate housing.
The initial amount of capital subscription of SPPICAV will be 750 Meuro.