Published by: Elise Caradec — Real Estate Editor
Boursorama's SCPI offer, now BoursoBank, allows direct investment in Mistral Selection and Sofidynamic, from one share, i.e. respectively 180 € and 320 €. The subscription is made online, but the simplicity of the journey must not hide the essential: fees, delay before the first income, taxation and possibility to resell. Neither capital nor dividends are guaranteed.
Two SCPI accessible at BoursoBank, with different conditions
Boursorama refers in particular to the financial information portal; BoursoBank has been the name of the bank since its change of name in 2023. To subscribe, search the SCPI section on the banking site or in your customer area, rather than limit yourself to the educational pages of the portal.
A civil real estate investment company collects savings from its partners to acquire and manage rental properties. You own shares, not a specific dwelling. The management company selects the assets, collects the rents and organizes any distributions. BoursoBank distributes the products: it does not itself provide property management.
| Criteria | Mistral Selection | Sofidynamic |
|---|---|---|
| Management company | Swiss Life Asset Managers France | Sofidy |
| Price | 180 € | 320 € |
| Minimum subscription | 1 share | 1 share |
| Subscription fees | 0 % HT | 2 % HT |
| Management fees posted | 13.75 % HT | 12 % HT |
| Time limit | 4 months | 5 months |
| Distribution target for 2026 | +7.5 % minimum, not guaranteed | +9.04%, not guaranteed |
| Risk indicator | 3/7 | 4/7 |
| Recommended horizon | Over 8 years | Over 8 years |
These conditions must be confirmed in the contract documents at the time of subscription. A withdrawal fee of 5 % HT is also indicated in case of early exit, with a detention threshold of 6 or 8 years depending on the product. Check the applicable threshold in each information note.
A Sofidynamic promotion mentions 2% of the subscribed amount offered, with an extension announced until 31/12/2026. Its eligibility and modalities must be checked: a commercial premium does not replace the investment analysis.
Displayed Performance: What You Can Really Compare
A target is not earned income
The distribution objectives of Mistral Selection and Sofidynamic are neither contractual rates nor performance already achieved. They are based on market assumptions. A Commercial Presentation « up to 7 % » Therefore, should not be mixed with the specific targets for 2026: always compare indicators of the same nature and period.
The distribution rate generally returns the amounts distributed over a year at the benchmark price of the share. It does not measure your overall result alone. The internal rate of return, or TRI, also takes into account the dates of the flows and the output value. A high distribution can thus coexist with a fall in the price of the shares.
Costs and time limit for use change the result
The management fees displayed do not mean that 13.75 % or 12% of your capital is collected each year. Their basis of assessment is defined in the documentation, in particular from the revenue concerned. The announced distributions are normally calculated after the expenses incurred by the SCPI, but before your personal tax: do not subtract twice the same costs.
The waiting period corresponds to the waiting period before the entitlement to income. With 4 months of delay, the entry into force shall be in accordance with the schedule provided for in the fifth month; 5 months, sixth. The actual payment then depends on the distribution schedule, potentially quarterly. Therefore, a purchase does not immediately produce a full quarter of dividends.
Think of your investment as a seed whose harvest is not immediate: separate the subscription budget from the cash needed while waiting. If you rely on dividends to pay a regular expense, plan an independent reserve. This gap between committed and respendable capital is more important than a small difference in return.
Subscribe online: account required, envelope and funding
The live subscription at BoursoBank requires the security account provided for this offer, as well as the accounts required by the banking route. This administrative operation does not transform the shares into marketable securities instantly into stock exchanges.
Investing in CIPS: Offer, Fees and Performance Objectives · Discover BoursoBank's live SCPI offer, entry fees and announced distribution goals.
- Access the SCPI offer from your BoursoBank space and select the product.
- See the key information document, the briefing note and the latest bulletins.
- Inform your heritage situation, knowledge and goals.
- Check the number of shares, the total amount, the fees and the date of enjoyment.
- Submit the requested proofs, then confirm the subscription and its financing.
Direct, life insurance and PERin are not interchangeable. Some SCPIs may be proposed in these envelopes, but this does not prove that Mistral Selection or Sofidynamic are accessible at BoursoBank. See the list of carriers in your contract: fees, distribution rules and exit conditions may differ.
Financing may be made in cash or considered through a Lombard credit, subject to acceptance. The latter is based on the pledge of financial assets. A decrease in collateral may result in an additional claim for coverage or a refund. Maturities remain due even if dividends decrease; Therefore, their amount should not constitute your sole reimbursement capacity.
Taxation and resale: two checks before immobilizing savings
Net income depends on your tax situation
In direct possession, French real estate income is generally a property income subject to the applicable tax and social levies. Potential financial revenues are treated separately. For foreign immovables, tax treaties determine mechanisms to avoid double taxation: French taxation should not be mechanically applied to the whole distribution.
The annual tax documentation and the Single Tax Print help to allocate the amounts to be reported. Interest on a loan financing the shares may be deductible from conditional land income, depending on the credit allocation and the applicable regime. The repayment of the borrowed capital is not deductible. A beneficiary assignment is generally governed by the property gains regime of individuals.
Exit is neither immediate nor guaranteed
The resale of shares is not managed as a stock exchange order by BoursoBank. It depends on the procedures of the management company and the presence of subscription requests or purchasers. A withdrawal may remain pending, and its price may be lower than the amount invested.
Before choosing between the two SCPIs, also examine the occupancy of buildings, the concentration of tenants, geographical distribution, indebtedness and real estate expertise. Mutualization reduces certain risk concentrations, without removing unpaid, vacant or reduced values.
This offer is particularly suitable for diversified savings that can remain immobilized for more than eight years. It is less suited to a precaution reserve or to a forthcoming real estate contribution. The right choice is not necessarily the SCPI with the highest objective: it is the one whose risks, costs and timing remain compatible with your heritage.