{"id":2480,"date":"2023-01-19T16:40:11","date_gmt":"2023-01-19T15:40:11","guid":{"rendered":"https:\/\/ad-maiora.fr\/?p=2480"},"modified":"2023-04-13T15:40:12","modified_gmt":"2023-04-13T13:40:12","slug":"inflation-hausse-des-taux-vents-contraires-sur-le-marche-de-la-scpi","status":"publish","type":"post","link":"https:\/\/ad-maiora.fr\/index.php\/2023\/01\/19\/inflation-hausse-des-taux-vents-contraires-sur-le-marche-de-la-scpi\/","title":{"rendered":"<strong>Inflation &amp; hausse des taux : Vents contraires sur le march\u00e9 de la SCPI<\/strong>"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2480\" class=\"elementor elementor-2480\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0b3f12e elementor-section-content-middle elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"0b3f12e\" 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elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-728480ed elementor-headline--style-rotate elementor-widget elementor-widget-animated-headline\" data-id=\"728480ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;headline_style&quot;:&quot;rotate&quot;,&quot;animation_type&quot;:&quot;slide&quot;,&quot;rotating_text&quot;:&quot;Nos r\\u00e9dactions \\nNos opportunit\\u00e9s \\nNos recherches&quot;,&quot;loop&quot;:&quot;yes&quot;,&quot;rotate_iteration_delay&quot;:2500}\" data-widget_type=\"animated-headline.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2 class=\"elementor-headline elementor-headline-animation-type-slide\">\n\t\t\t\t\t<span class=\"elementor-headline-plain-text elementor-headline-text-wrapper\">AD maiora<br><\/span>\n\t\t\t\t<span class=\"elementor-headline-dynamic-wrapper elementor-headline-text-wrapper\">\n\t\t\t\t\t<span class=\"elementor-headline-dynamic-text elementor-headline-text-active\">\n\t\t\t\tNos&nbsp;r\u00e9dactions&nbsp;\t\t\t<\/span>\n\t\t\t\t\t<span class=\"elementor-headline-dynamic-text\">\n\t\t\t\tNos&nbsp;opportunit\u00e9s&nbsp;\t\t\t<\/span>\n\t\t\t\t\t<span class=\"elementor-headline-dynamic-text\">\n\t\t\t\tNos&nbsp;recherches\t\t\t<\/span>\n\t\t\t\t\t\t<\/span>\n\t\t\t\t<\/h2>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d572673 elementor-widget elementor-widget-text-editor\" data-id=\"d572673\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><em>\u00ab\u00a0Vers de plus grands projets\u00a0\u00bb<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d4574ff elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d4574ff\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4437aa6\" data-id=\"4437aa6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dbc10df elementor-widget elementor-widget-heading\" data-id=\"dbc10df\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Inflation &amp; hausse des taux : Vents contraires sur le march\u00e9 de la SCPI<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-790f59af elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"790f59af\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1de6847d\" data-id=\"1de6847d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f23f3be elementor-widget elementor-widget-text-editor\" data-id=\"f23f3be\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Les SCPI (<em>Soci\u00e9t\u00e9 Civile de Placement Immobilier<\/em>) sont des <strong>v\u00e9hicules d\u2019investissement<\/strong> ayant pour objectif de regrouper des investisseurs dans l\u2019objectif de faire l\u2019acquisition d\u2019un <strong>parc immobilier diversifi\u00e9<\/strong>. Historiquement et majoritairement, les SCPI font l\u2019acquisition de biens <strong>\u00e0 usage professionnel<\/strong>, des bureaux, des commerces, des entrep\u00f4ts, \u2026<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7756498 elementor-widget elementor-widget-heading\" data-id=\"7756498\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Inflation<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4a2d21e elementor-widget elementor-widget-heading\" data-id=\"4a2d21e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Indexation des loyers, un m\u00e9canisme profitable\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d9253d elementor-widget elementor-widget-text-editor\" data-id=\"1d9253d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Pour ce type de bien, la question de l\u2019inflation est tr\u00e8s importante car tr\u00e8s souvent, l\u2019<strong>indexation des loyers<\/strong> qui est pr\u00e9vue dans les baux y est tr\u00e8s fortement <strong>li\u00e9e<\/strong>. En effet, en <strong>France<\/strong>, ce sont l\u2019<strong>ILC<\/strong> (i<em>ndice des loyers commerciaux<\/em>) et l\u2019<strong>ILAT<\/strong> (i<em>ndice des loyers des activit\u00e9s tertiaires<\/em>) qui vont d\u00e9finir l\u2019\u00e9volution des loyers pour les biens \u00e0 usage professionnel (<em>baux professionnels et baux commerciaux<\/em>). Ces deux indices sont <strong>\u00e9troitement li\u00e9s<\/strong> <strong>\u00e0 l\u2019inflation<\/strong> car ils int\u00e8grent notamment l\u2019<span style=\"text-decoration: underline;\">indice des prix de la construction neuve<\/span> et l\u2019<span style=\"text-decoration: underline;\">indice des prix \u00e0 la consommation<\/span>.\u00a0<\/p><p>Encore plus frappant, en <strong>Allemagne<\/strong>, les loyers professionnels sont <strong>index\u00e9s directement<\/strong> \u00e0 l\u2019inflation.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e9d779b elementor-widget elementor-widget-text-editor\" data-id=\"e9d779b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><b>Nous pouvons sauter de joie. <\/b><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f6f5c9d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f6f5c9d\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-0283630\" data-id=\"0283630\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-11733bc elementor-widget elementor-widget-text-editor\" data-id=\"11733bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Par ailleurs, les actifs professionnels s\u2019ach\u00e8tent,\u00a0notamment, en fonction du\u00a0montant du loyer, divis\u00e9 par un taux de performance.\u00a0<strong>En d\u2019autres termes, plus le loyer est \u00e9lev\u00e9, plus le bien a de la valeur.<\/strong><\/p><p>Par exemple, le loyer de deux biens lou\u00e9s au m\u00eame endroit avec les m\u00eames caract\u00e9ristiques peut \u00eatre diff\u00e9rent :\u00a0<\/p><ul><li aria-level=\"1\">Bien A : 20.000 \u20ac \/ mois\u00a0<\/li><li aria-level=\"1\">Bien B : 21.000 \u20ac \/ mois<\/li><\/ul><p>Si le rendement cl\u00e9 en main est de 6 %, cela implique que A se valorise 4.000.000 \u20ac\u00a0((20.000\u20ac*12 mois)\/6%)\u00a0et B se valorise 4.200.000 \u20ac\u00a0((21.000\u20ac*12 mois)\/6%).\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-0b3e923\" data-id=\"0b3e923\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-15f09f4 elementor-widget elementor-widget-image\" data-id=\"15f09f4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"452\" src=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/shutterstock_1962244735-1024x578.jpg\" class=\"attachment-large size-large wp-image-3449\" alt=\"\" srcset=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/shutterstock_1962244735-1024x578.jpg 1024w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/shutterstock_1962244735-300x169.jpg 300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/shutterstock_1962244735-768x434.jpg 768w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/shutterstock_1962244735-1536x867.jpg 1536w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/shutterstock_1962244735-2048x1156.jpg 2048w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-2fbc12f elementor-widget elementor-widget-text-editor\" data-id=\"2fbc12f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong style=\"color: var( --e-global-color-7f9faf9 ); font-style: var( --e-global-typography-text-font-style ); letter-spacing: var( --e-global-typography-text-letter-spacing ); text-transform: var( --e-global-typography-text-text-transform ); background-color: var( --e-global-color-5daae3fe );\">La hausse des loyers fait donc augmenter la valeur des actifs !<\/strong><span style=\"color: var( --e-global-color-7f9faf9 ); font-style: var( --e-global-typography-text-font-style ); letter-spacing: var( --e-global-typography-text-letter-spacing ); text-transform: var( --e-global-typography-text-text-transform ); background-color: var( --e-global-color-5daae3fe );\"> Bien entendu, nous ne prenons pas ici en compte la v\u00e9tust\u00e9 du bien, la qualit\u00e9 du locataire ou encore la dur\u00e9e du bail, \u2026 qui sont susceptibles <\/span><em style=\"color: var( --e-global-color-7f9faf9 ); letter-spacing: var( --e-global-typography-text-letter-spacing ); text-transform: var( --e-global-typography-text-text-transform ); background-color: var( --e-global-color-5daae3fe );\">d\u2019influencer<\/em><span style=\"color: var( --e-global-color-7f9faf9 ); font-style: var( --e-global-typography-text-font-style ); letter-spacing: var( --e-global-typography-text-letter-spacing ); text-transform: var( --e-global-typography-text-text-transform ); background-color: var( --e-global-color-5daae3fe );\"> la valorisation du bien.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be23335 elementor-widget elementor-widget-text-editor\" data-id=\"be23335\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><b>Tout va bien dans le meilleur des mondes. L\u2019inflation fait des miracles. <\/b><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-db1212b elementor-widget elementor-widget-heading\" data-id=\"db1212b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Le th\u00e9orie fonctionne - pour certains\u2026<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f8e880f elementor-widget elementor-widget-text-editor\" data-id=\"f8e880f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>En pratique, nous constatons que toutes les SCPI <strong>n&rsquo;ont pas la capacit\u00e9<\/strong> de r\u00e9percuter l\u2019inflation sur leurs loyers. Parmi celles qui y parviennent, nous avons retenu les suivantes :\u00a0\u00a0<\/p><table><tbody><tr><td>\u00a0<\/td><td><p><strong>Th\u00e9matique<\/strong><\/p><\/td><td><p><strong>Arguments en faveur de l\u2019inflation\u00a0<\/strong><\/p><\/td><td><p><strong>Performance attendue pour 2022<\/strong><\/p><\/td><\/tr><tr><td><p style=\"text-align: center;\"><strong>\u00a0Activimmo <\/strong>Alderan<\/p><\/td><td><p>Logistique en France avec une ouverture r\u00e9cente sur l\u2019Europe<\/p><\/td><td><ul><li aria-level=\"1\">75 % des loyers sont index\u00e9s \u00e0 l\u2019ILAT (+ 5,88 % sur 1 an, au 3\u00e8me trimestre 2022).<\/li><li aria-level=\"1\">Les loyers ont d\u00e9j\u00e0 \u00e9t\u00e9 index\u00e9s \u00e0 hauteur d\u2019environ 3 % \u00e0 ce jour.<\/li><\/ul><\/td><td><p><strong>5,5 % nets de frais et de fiscalit\u00e9 \u00e9trang\u00e8re<\/strong><\/p><\/td><\/tr><tr><td><p style=\"text-align: center;\"><strong>Novapierre Allemagne 2\u00a0<\/strong><br \/>Paref<\/p><\/td><td><p>Commerces essentiels en Allemagne (avec deux opportunit\u00e9s saisies aux Pays-Bas)<\/p><\/td><td><ul><li aria-level=\"1\">Hausse des loyers d&rsquo;environ 14% dont 7,50 % \u00e0 p\u00e9rim\u00e8tre constant.\u00a0<\/li><li aria-level=\"1\">Les loyers Allemands sont directement index\u00e9s sur l\u2019inflation.<\/li><\/ul><\/td><td><p><strong>Entre 4 et 4,5 % nets de frais et de fiscalit\u00e9 \u00e9trang\u00e8re<\/strong><\/p><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f443205 elementor-widget elementor-widget-heading\" data-id=\"f443205\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Hausse des taux<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-172bfb1 elementor-widget elementor-widget-heading\" data-id=\"172bfb1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Quand les taux co\u00fbtent le prix du loyer, fin de l\u2019argent gratuit<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a08092 elementor-widget elementor-widget-text-editor\" data-id=\"3a08092\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Impossible de passer \u00e0 c\u00f4t\u00e9 de la hausse des taux d\u2019emprunt. <strong>Tous sont concern\u00e9s<\/strong>, celle-ci touche aussi bien les particuliers que les professionnels. Or, dans le cadre des SCPI, le <strong>recours \u00e0 l\u2019effet de levier du cr\u00e9dit<\/strong> peut faire partie <em>int\u00e9grante<\/em> de la strat\u00e9gie d\u2019un g\u00e9rant&#8230;<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-a5bcba0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a5bcba0\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3238ab7\" data-id=\"3238ab7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c80d28b elementor-widget elementor-widget-text-editor\" data-id=\"c80d28b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b>En effet, les lignes de cr\u00e9dit peuvent servir \u00e0 <\/b>:<\/p><ul><li aria-level=\"1\"><strong>Anticiper la collecte <\/strong>&#8211; pour des montants contenus,\u00a0<\/li><li aria-level=\"1\">Les <strong>pr\u00eats amortissables<\/strong> financent, <em>pour partie<\/em>, l\u2019acquisition d\u2019un bien avec le remboursement des \u00e9ch\u00e9ances via les flux de loyer ;\u00a0<\/li><li aria-level=\"1\">Les <strong>cr\u00e9dits in fine<\/strong> (<em>seuls les int\u00e9r\u00eats sont d\u00fbs au fil de l\u2019eau et le capital n\u2019est rembours\u00e9 qu\u2019en une fois unique \u00e0 l\u2019\u00e9ch\u00e9ance<\/em>) permettent de g\u00e9n\u00e9rer des loyers suppl\u00e9mentaires sans porter la charge du remboursement du capital.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-690b572\" data-id=\"690b572\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-78c5127 elementor-widget elementor-widget-text-editor\" data-id=\"78c5127\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #2c2d40; font-weight: bold; font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-style: var( --e-global-typography-text-font-style ); letter-spacing: var( --e-global-typography-text-letter-spacing ); text-transform: var( --e-global-typography-text-text-transform );\">Mais \u00e0 cette heure, avec la hausse des taux, double peine <\/span><span style=\"color: #2c2d40; font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-size: var( --e-global-typography-text-font-size ); font-style: var( --e-global-typography-text-font-style ); letter-spacing: var( --e-global-typography-text-letter-spacing ); text-transform: var( --e-global-typography-text-text-transform );\">:<\/span><\/p><ul><li aria-level=\"1\">Les g\u00e9rants devront m\u00fbrement r\u00e9fl\u00e9chir au recours \u00e0 ce type d\u2019op\u00e9ration car les nouveaux taux pourront \u00ab\u00a0manger\u00a0\u00bb les loyers des biens ;\u00a0<\/li><\/ul><ul><li aria-level=\"1\">Les g\u00e9rants vont \u00eatre dans \u201cl\u2019obligation\u201d de rembourser les pr\u00eats in fine et donc ils devront soit vendre des actifs pour financer le remboursement soit accepter de prolonger le pr\u00eat avec des taux qui consomment la performance.\u00a0<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d9769b elementor-widget elementor-widget-text-editor\" data-id=\"1d9769b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u00a0<\/p><p>En<span style=\"color: var( --e-global-color-7f9faf9 ); font-style: var( --e-global-typography-text-font-style ); letter-spacing: var( --e-global-typography-text-letter-spacing ); text-transform: var( --e-global-typography-text-text-transform ); background-color: var( --e-global-color-5daae3fe );\"> cons\u00e9quence, <strong>le rendement peut \u00eatre amen\u00e9 \u00e0 baisser pour les SCPI ayant un recours significatif \u00e0 l\u2019effet de levier du cr\u00e9dit<\/strong>.<\/span><\/p><p>En effet,<em> de mani\u00e8re peut-\u00eatre un peu caricatur\u00e9e<\/em>, nous pouvons dire que le co\u00fbt du cr\u00e9dit est d\u00e9sormais presque \u00e9gal au rendement locatif net.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cdbd419 elementor-widget elementor-widget-heading\" data-id=\"cdbd419\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Baisse du recours au cr\u00e9dit, l\u2019argent ne se d\u00e9verse plus<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-17b39cb elementor-widget elementor-widget-text-editor\" data-id=\"17b39cb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Autre ph\u00e9nom\u00e8ne,<strong> la hausse des taux et les conditions d\u2019acc\u00e8s aux cr\u00e9dits plus difficiles<\/strong> ont vocation \u00e0 faire baisser les volumes d\u2019acquisition et ainsi les prix des biens. Les valorisations des biens auront donc tendance \u00e0 baisser, <strong>ce qui repr\u00e9sente certes une opportunit\u00e9 pour les nouvelles acquisitions mais un risque de baisse des valeurs pour les actifs en portefeuille<\/strong>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-35d7926 elementor-widget elementor-widget-heading\" data-id=\"35d7926\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Coussin de s\u00e9curit\u00e9: D\u00e9cote sur le prix de la part\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9471646 elementor-widget elementor-widget-text-editor\" data-id=\"9471646\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>En s&rsquo;int\u00e9ressant aux SCPI, il est de rigueur de <strong>comparer<\/strong> le prix de souscription d&rsquo;une part et la valeur des actifs d\u00e9tenus. En effet, les g\u00e9rants ont une certaine latitude et <strong>peuvent fixer le prix de souscription \u00e0 + ou &#8211; 10 % de la valeur de reconstitution<\/strong>. En d\u2019autres termes, une SCPI avec une valeur de reconstitution de 100 \u20ac peut \u00eatre propos\u00e9e \u00e0 un prix de souscription entre 90 \u20ac et 110 \u20ac. Vous comprendrez donc qu\u2019il y a, sur le march\u00e9, des SCPI avec des <strong>d\u00e9cotes<\/strong> plus ou moins importantes.&nbsp;<\/p>\n<p>Cette d\u00e9cote peut servir \u00e0 deux choses :&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\"><strong>En cas de hausse des prix immobiliers<\/strong> : vous pouvez plus facilement esp\u00e9rer une hausse du prix de la part et donc vous pouvez r\u00e9aliser une <strong>plus-value<\/strong>. Dans l&rsquo;exemple pr\u00e9c\u00e9dent, si la SCPI se vend 90 \u20ac et que les nouvelles valeurs d\u2019expertises font passer la valeur de reconstitution de la SCPI \u00e0 103 \u20ac alors le prix de souscription minimum de la SCPI passera \u00e0 92.70 \u20ac.&nbsp;<\/li>\n<li aria-level=\"1\"><strong>En cas de baisse des prix immobiliers<\/strong> : l\u2019acqu\u00e9reur est couvert contre une forte baisse de la valeur de reconstitution. Dans notre exemple, il faudrait que la valeur de reconstitution passe \u00e0 moins de 82 \u20ac pour que la soci\u00e9t\u00e9 de gestion soit dans l\u2019obligation de baisser la valeur de ses parts.<\/li>\n<\/ul>\n<p><b>On constate sur le march\u00e9 plusieurs SCPI avec une d\u00e9cote significative :&nbsp;<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td>\n<p><b>Nom de la SCPI<\/b><\/p>\n<\/td>\n<td>\n<p><b>Th\u00e9matique<\/b><\/p>\n<\/td>\n<td>\n<p><b>D\u00e9cote entre le prix de la part et la valeur de reconstitution<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><strong>LF Grand Paris Patrimoine&nbsp;<\/strong><\/p>\n<\/td>\n<td>\n<p>Bureaux en p\u00e9riph\u00e9rie parisienne<\/p>\n<\/td>\n<td>\n<p><b>8.94 %<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><strong>Novapierre Allemagne 2&nbsp;<\/strong><\/p>\n<\/td>\n<td>\n<p>Commerces essentiels en Allemagne (avec une opportunit\u00e9 saisie aux Pays-Bas)<\/p>\n<\/td>\n<td>\n<p><b>9,72 %<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p><strong>Epargne Pierre<\/strong><\/p>\n<\/td>\n<td>\n<p>Actifs en r\u00e9gion diversifi\u00e9s<\/p>\n<\/td>\n<td>\n<p><b>7,15 %<\/b><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>A noter que, cette ann\u00e9e, les valorisations auront tendance \u00e0 rester stables voire baisser l\u00e9g\u00e8rement, apr\u00e8s une ann\u00e9e 2021 o\u00f9 les prix ont eu tendance \u00e0 s\u2019envoler !&nbsp;<\/p>\n<p><em>Petit rappel : Novapierre Allemagne 2 est d\u00e9cot\u00e9e de 9,72 % en prenant en compte une hausse du prix de la part de plus de 4 % en 2022\u2026<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b746acb elementor-widget elementor-widget-heading\" data-id=\"b746acb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Faible exposition aux cr\u00e9dits\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-706e22f elementor-widget elementor-widget-text-editor\" data-id=\"706e22f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Au-del\u00e0 du <strong>coussin de s\u00e9curit\u00e9<\/strong> que peut repr\u00e9senter une d\u00e9cote sur le prix de souscription de la part, une <strong>gestion financi\u00e8re saine<\/strong> rassure.\u00a0 Comme nous l\u2019avons vu ensemble plus haut, il \u00e9tait jusqu&rsquo;en 2022 \u201cfacile\u201d pour les SCPI d\u2019avoir recours \u00e0 l\u2019endettement pour doper la performance. Les conditions de financement s&rsquo;\u00e9tant d\u00e9t\u00e9rior\u00e9es, nous misons sur les SCPI <strong>qui ne sont pas\u00a0 d\u00e9pendantes du cr\u00e9dit pour d\u00e9livrer la performance<\/strong>.\u00a0<\/p><p><b>C\u2019est le cas notamment de deux SCPI :\u00a0<\/b><\/p><table><tbody><tr><td><p><b>Nom de la SCPI<\/b><\/p><\/td><td><p><b>Strat\u00e9gie autour du cr\u00e9dit<\/b><\/p><\/td><td><p><b>Performance attendue pour 2022<\/b><\/p><\/td><\/tr><tr><td><p style=\"text-align: center;\"><strong>Activimmo<\/strong><\/p><\/td><td><p><span style=\"font-weight: 400;\">Recours au cr\u00e9dit anecdotique, avec une seule ligne de cr\u00e9dit en 2022 et qui a \u00e9t\u00e9 rembours\u00e9e au troisi\u00e8me trimestre ! Les rendements distribu\u00e9s ne sont donc pas du tout d\u00e9pendants de l\u2019endettement.<\/span><\/p><\/td><td><p><b>5,5 % nets<\/b><\/p><\/td><\/tr><tr><td><p style=\"text-align: center;\"><strong>Epargne Pierre<\/strong><\/p><\/td><td><p><span style=\"font-weight: 400;\">Un taux d\u2019endettement d\u2019environ 13 %, parmi les plus bas du march\u00e9. Dans leurs cas, il faut prendre en compte que les acquisitions offrent, pour la majorit\u00e9, un rendement cl\u00e9 en main de plus de 6 %.\u00a0<\/span><\/p><\/td><td><p><b>Environ 5,20 %<\/b><\/p><\/td><\/tr><\/tbody><\/table><p>Il faut noter enfin que le recours \u00e0 l\u2019argent gratuit &#8211; <em>le cr\u00e9dit<\/em> &#8211; a pu <strong>fausser les prix d\u2019acquisitions<\/strong> ces derni\u00e8res ann\u00e9es. En effet, la concurrence sur l\u2019acquisition des biens a fait flamber les prix, c\u2019est notamment le cas de la logistique ou encore du commerce en Allemagne. Ce qui rendait le travail des sp\u00e9cialistes de ces th\u00e9matiques plus difficile, du fait de <strong>nouveaux investisseurs tirant les prix vers le haut<\/strong>. Pour exemple, les g\u00e9rants de\u00a0<strong>Paref<\/strong>\u00a0ont d\u00e9cid\u00e9 de<strong>\u00a0fermer la collecte<\/strong>\u00a0<strong>de la SCPI Novapierre Allemagne 2<\/strong>\u00a0pendant quelques mois, pour ne pas se retrouver dans l\u2019obligation d\u2019acheter des actifs \u00e0 des prix \u00e9lev\u00e9s et donc augmenter le risque de faire baisser le rendement cible de la SCPI.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-01d1255 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"01d1255\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2ff6b4f\" data-id=\"2ff6b4f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0a405b5 elementor-widget elementor-widget-text-editor\" data-id=\"0a405b5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>\u00a0<\/p><p>Pour <strong>Activimmo<\/strong>, comme vous pourrez le voir dans la vid\u00e9o, <strong>leur m\u00e9tier de niche et leur expertise<\/strong> depuis de tr\u00e8s nombreuses ann\u00e9es dans la th\u00e9matique de la logistique, leur ont toujours permis d\u2019acheter dans de bonnes conditions et souvent \u201coff-market\u201d.\u00a0<\/p><p><strong>Bilan simple et efficace : \u00e0 nos yeux, les SCPI ont toujours de beaux jours devant elles mais les \u00e9carts vont s\u2019accentuer entre les bons g\u00e9rants et les moins bons. A suivre !<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1415ceb\" data-id=\"1415ceb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-396b912 elementor-widget elementor-widget-image\" data-id=\"396b912\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.clubpatrimoine.com\/contenus\/scpi-de-la-semaine-activimmo-alderan-avec-maxime-alexandre-corre-ad-maiora\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"638\" height=\"637\" src=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/Video-club-patrimoine.jpg\" class=\"attachment-large size-large wp-image-2812\" alt=\"\" srcset=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/Video-club-patrimoine.jpg 638w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/Video-club-patrimoine-300x300.jpg 300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/Video-club-patrimoine-150x150.jpg 150w\" sizes=\"(max-width: 638px) 100vw, 638px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-798c3f8 elementor-widget elementor-widget-spacer\" data-id=\"798c3f8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2744706 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2744706\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-463df8f\" data-id=\"463df8f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-70bdf0f elementor-widget elementor-widget-text-editor\" data-id=\"70bdf0f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Article en lien avec notre publication : <a href=\"https:\/\/ad-maiora.fr\/index.php\/2023\/01\/05\/investir-dans-des-placements-concrets\/#equilibre\">Nos recommandations d&rsquo;investissement pour 2023\u00a0<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f823a09 elementor-widget elementor-widget-text-editor\" data-id=\"f823a09\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><em>Les SCPI pr\u00e9sentent un risque de perte en capital, les performances pass\u00e9es ne pr\u00e9sagent pas des performances futures. Seuls les fonds en euros offrent la garantie en capital.\u00a0<\/em><\/p><p><em>Ceci n\u2019est ni une incitation ni un conseil en investissement personnalis\u00e9. Avant tout investissement, il conviendra de s\u2019assurer que votre situation, votre profil de risque, vos objectifs, votre horizon de placement et vos pr\u00e9f\u00e9rences de durabilit\u00e9 sont en ad\u00e9quation avec le produit.\u00a0<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2a6e9bc animated-slow pp-dual-heading-inline elementor-invisible elementor-widget elementor-widget-pp-dual-heading\" data-id=\"2a6e9bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInUp&quot;}\" data-widget_type=\"pp-dual-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"pp-dual-heading\"><span class=\"pp-first-text\">Des questions sur cet article ? <\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c89b957 elementor-button-align-stretch elementor-widget elementor-widget-form\" data-id=\"c89b957\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;step_next_label&quot;:&quot;Suivant&quot;,&quot;step_previous_label&quot;:&quot;Pr\\u00e9c\\u00e9dent&quot;,&quot;button_width&quot;:&quot;100&quot;,&quot;step_type&quot;:&quot;number_text&quot;,&quot;step_icon_shape&quot;:&quot;circle&quot;}\" data-widget_type=\"form.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<form class=\"elementor-form\" method=\"post\" name=\"Contact du site Ad-Maiora\" aria-label=\"Contact du site Ad-Maiora\">\n\t\t\t<input type=\"hidden\" name=\"post_id\" value=\"2480\"\/>\n\t\t\t<input type=\"hidden\" name=\"form_id\" value=\"c89b957\"\/>\n\t\t\t<input type=\"hidden\" name=\"referer_title\" value=\"Inflation &amp; hausse des taux : Vents contraires sur le march\u00e9 de la SCPI\" \/>\n\n\t\t\t\t\t\t\t<input type=\"hidden\" name=\"queried_id\" value=\"2480\"\/>\n\t\t\t\n\t\t\t<div class=\"elementor-form-fields-wrapper elementor-labels-above\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-name elementor-col-100 elementor-field-required elementor-mark-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-name\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tNom & pr\u00e9nom\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[name]\" id=\"form-field-name\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"Votre nom et pr\u00e9nom\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-tel elementor-field-group elementor-column elementor-field-group-email elementor-col-100 elementor-field-required elementor-mark-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-email\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tT\u00e9l\u00e9phone\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t<input size=\"1\" type=\"tel\" name=\"form_fields[email]\" id=\"form-field-email\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"00 00 00 00 00\" required=\"required\" pattern=\"[0-9()#&amp;+*-=.]+\" title=\"Seuls les caract\u00e8res de num\u00e9ros de t\u00e9l\u00e9phone (#, -, *, etc.) sont accept\u00e9s.\">\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-email elementor-field-group elementor-column elementor-field-group-field_bbf1f2e elementor-col-100 elementor-field-required elementor-mark-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_bbf1f2e\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tE-mail\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"email\" name=\"form_fields[field_bbf1f2e]\" id=\"form-field-field_bbf1f2e\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"Votre adresse e-mail\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-textarea elementor-field-group elementor-column elementor-field-group-message elementor-col-100 elementor-field-required elementor-mark-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-message\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tMessage\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t<textarea class=\"elementor-field-textual elementor-field  elementor-size-sm\" name=\"form_fields[message]\" id=\"form-field-message\" rows=\"4\" placeholder=\"Posez votre question\" required=\"required\"><\/textarea>\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-group elementor-column elementor-field-type-submit elementor-col-100 e-form__buttons\">\n\t\t\t\t\t<button class=\"elementor-button elementor-size-sm\" type=\"submit\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Envoyer<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/button>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/form>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e85dd60 elementor-section-content-middle elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"e85dd60\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-custom\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e7bdaba elementor-invisible\" data-id=\"e7bdaba\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;animation&quot;:&quot;slideInUp&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9f0acd2 elementor-widget-divider--view-line_icon elementor-view-default elementor-widget-divider--element-align-center elementor-widget elementor-widget-divider\" data-id=\"9f0acd2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon elementor-divider__element\">\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" id=\"Calque_1\" x=\"0px\" y=\"0px\" viewBox=\"0 0 500 350.9\" style=\"enable-background:new 0 0 500 350.9;\" xml:space=\"preserve\"><style type=\"text\/css\">\t.st0{fill:#BA7F57;}<\/style><g>\t<path class=\"st0\" d=\"M138.7,201.8c-13.1-5.6-27.9-8.7-43.8-8.7C42.4,193.2,0,228.3,0,271.9c0,43.5,42.4,78.7,94.9,78.7  c15.9,0,30.7-3.1,43.8-8.7c-30.4-13.1-51.4-39.6-51.4-70.1C87.4,241.4,108.3,215.2,138.7,201.8z\"><\/path>\t<path class=\"st0\" d=\"M237.5,314.4c-35.4-41.9-48.4-101-28.8-156.4c5.9-16.5,14.5-31.4,24.9-44.6c-8.9-24.4-32.2-42-59.7-42  c-7.5,0-15.1,1.4-22.1,4.2v41.9v33.2v135.4c0,35.2,28.5,63.6,63.6,63.6c12.2,0,24-3.6,34.2-10c1.7-1.1,3.5-2.1,5.2-3.4l2.8-2.2  C250.3,328.1,243.6,321.5,237.5,314.4z\"><\/path>\t<path class=\"st0\" d=\"M74.7,160.6c24.8,0,44.8-20.1,44.8-44.8c0-24.8-20.1-44.8-44.8-44.8S29.8,91,29.8,115.8  C29.8,140.5,49.9,160.6,74.7,160.6z\"><\/path>\t<path class=\"st0\" d=\"M317.2,164.4c14.8-41.6,47.4-71.7,86-85.1c-71.7-24-149.9,13.7-175.6,85.4c-25.7,72.6,12.3,152.4,84.9,178.1  c31,11.2,63.4,10.3,92.1,0.6c-0.8-0.3-1.7-0.6-2.5-0.8C329.5,316.5,291.5,237,317.2,164.4z\"><\/path>\t<path class=\"st0\" d=\"M413.8,260.3c0,47.5,38,87.2,85.5,87.3c0.2,0,0.5,0,0.7,0V0h-86.2V260.3z\"><\/path><\/g><\/svg><\/div>\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7ef0b9e elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ef0b9e\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-custom\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a70e07a\" data-id=\"a70e07a\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-29dc27e elementor-widget elementor-widget-text-editor\" data-id=\"29dc27e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p dir=\"ltr\">blog<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b4799e7 animated-slow pp-dual-heading-inline elementor-invisible elementor-widget elementor-widget-pp-dual-heading\" data-id=\"b4799e7\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInUp&quot;}\" data-widget_type=\"pp-dual-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"pp-dual-heading\"><span class=\"pp-first-text\">Nos <\/span><span class=\"pp-second-text\">r\u00e9dactions<\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-80a7923 elementor-hidden-mobile elementor-widget elementor-widget-spacer\" data-id=\"80a7923\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c5f385 elementor-grid-tablet-1 elementor-posts--align-center elementor-posts__hover-none elementor-grid-3 elementor-grid-mobile-1 elementor-posts--thumbnail-top elementor-widget elementor-widget-posts\" data-id=\"1c5f385\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;cards_columns_tablet&quot;:&quot;1&quot;,&quot;cards_row_gap&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:30,&quot;sizes&quot;:[]},&quot;pagination_type&quot;:&quot;numbers&quot;,&quot;cards_columns&quot;:&quot;3&quot;,&quot;cards_columns_mobile&quot;:&quot;1&quot;,&quot;cards_row_gap_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;cards_row_gap_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"posts.cards\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-posts-container elementor-posts elementor-posts--skin-cards elementor-grid\" role=\"list\">\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-1267 post type-post status-publish format-standard has-post-thumbnail hentry category-financier\" role=\"listitem\">\n\t\t\t<div class=\"elementor-post__card\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/ad-maiora.fr\/index.php\/2022\/09\/08\/article-de-reference-blocs-a-utiliser\/\" tabindex=\"-1\" ><div class=\"elementor-post__thumbnail\"><img loading=\"lazy\" decoding=\"async\" width=\"1300\" height=\"1300\" src=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_grand5-copie.png\" class=\"attachment-full size-full wp-image-2537\" alt=\"\" srcset=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_grand5-copie.png 1300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_grand5-copie-300x300.png 300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_grand5-copie-1024x1024.png 1024w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_grand5-copie-150x150.png 150w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_grand5-copie-768x768.png 768w\" sizes=\"(max-width: 1300px) 100vw, 1300px\" \/><\/div><\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-1418 post type-post status-publish format-standard has-post-thumbnail hentry category-financier\" role=\"listitem\">\n\t\t\t<div class=\"elementor-post__card\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/ad-maiora.fr\/index.php\/2022\/09\/08\/article-de-reference-blocs-a-utiliser-2\/\" tabindex=\"-1\" ><div class=\"elementor-post__thumbnail\"><img loading=\"lazy\" decoding=\"async\" width=\"1300\" height=\"1300\" src=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_petit5-copie.png\" class=\"attachment-full size-full wp-image-2541\" alt=\"\" srcset=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_petit5-copie.png 1300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_petit5-copie-300x300.png 300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_petit5-copie-1024x1024.png 1024w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_petit5-copie-150x150.png 150w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_bleu_petit5-copie-768x768.png 768w\" sizes=\"(max-width: 1300px) 100vw, 1300px\" \/><\/div><\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-1476 post type-post status-publish format-standard has-post-thumbnail hentry category-general\" role=\"listitem\">\n\t\t\t<div class=\"elementor-post__card\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/ad-maiora.fr\/index.php\/2022\/09\/08\/article-de-reference-blocs-a-utiliser-3\/\" tabindex=\"-1\" ><div class=\"elementor-post__thumbnail\"><img loading=\"lazy\" decoding=\"async\" width=\"1300\" height=\"1300\" src=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_marron_petit5-copie.png\" class=\"attachment-full size-full wp-image-2545\" alt=\"\" srcset=\"https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_marron_petit5-copie.png 1300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_marron_petit5-copie-300x300.png 300w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_marron_petit5-copie-1024x1024.png 1024w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_marron_petit5-copie-150x150.png 150w, https:\/\/ad-maiora.fr\/wp-content\/uploads\/2023\/01\/moleskin_marron_petit5-copie-768x768.png 768w\" sizes=\"(max-width: 1300px) 100vw, 1300px\" \/><\/div><\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/article>\n\t\t\t\t<\/div>\n\t\t\n\t\t\t\t<div class=\"e-load-more-anchor\" data-page=\"1\" data-max-page=\"8\" data-next-page=\"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts\/2480\/page\/2\/\"><\/div>\n\t\t\t\t<nav class=\"elementor-pagination\" aria-label=\"Pagination\">\n\t\t\t<span aria-current=\"page\" class=\"page-numbers current\"><span class=\"elementor-screen-only\">Page<\/span>1<\/span>\n<a class=\"page-numbers\" href=\"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts\/2480\/page\/2\/\"><span class=\"elementor-screen-only\">Page<\/span>2<\/a>\n<a class=\"page-numbers\" href=\"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts\/2480\/page\/3\/\"><span class=\"elementor-screen-only\">Page<\/span>3<\/a>\n<span class=\"page-numbers dots\">\u2026<\/span>\n<a class=\"page-numbers\" href=\"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts\/2480\/page\/8\/\"><span class=\"elementor-screen-only\">Page<\/span>8<\/a>\t\t<\/nav>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d730c0 elementor-hidden-mobile elementor-widget elementor-widget-spacer\" data-id=\"9d730c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-efb92e8 elementor-section-content-middle elementor-section-full_width elementor-section-height-min-height elementor-section-height-default elementor-section-items-middle\" data-id=\"efb92e8\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b72888c\" data-id=\"b72888c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5206250 elementor-headline--style-rotate elementor-widget elementor-widget-animated-headline\" data-id=\"5206250\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;headline_style&quot;:&quot;rotate&quot;,&quot;animation_type&quot;:&quot;slide&quot;,&quot;rotating_text&quot;:&quot;Nos r\\u00e9dactions \\nNos opportunit\\u00e9s \\nNos recherches&quot;,&quot;loop&quot;:&quot;yes&quot;,&quot;rotate_iteration_delay&quot;:2500}\" data-widget_type=\"animated-headline.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h2 class=\"elementor-headline elementor-headline-animation-type-slide\">\n\t\t\t\t\t<span class=\"elementor-headline-plain-text elementor-headline-text-wrapper\">AD maiora<br><\/span>\n\t\t\t\t<span class=\"elementor-headline-dynamic-wrapper elementor-headline-text-wrapper\">\n\t\t\t\t\t<span class=\"elementor-headline-dynamic-text elementor-headline-text-active\">\n\t\t\t\tNos&nbsp;r\u00e9dactions&nbsp;\t\t\t<\/span>\n\t\t\t\t\t<span class=\"elementor-headline-dynamic-text\">\n\t\t\t\tNos&nbsp;opportunit\u00e9s&nbsp;\t\t\t<\/span>\n\t\t\t\t\t<span class=\"elementor-headline-dynamic-text\">\n\t\t\t\tNos&nbsp;recherches\t\t\t<\/span>\n\t\t\t\t\t\t<\/span>\n\t\t\t\t<\/h2>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-efc2e68 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"efc2e68\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-33522d2\" data-id=\"33522d2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-03922db elementor-section-height-min-height elementor-section-boxed elementor-section-height-default\" data-id=\"03922db\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-66b98ca\" data-id=\"66b98ca\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b678d9a elementor-widget elementor-widget-text-editor\" data-id=\"b678d9a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p dir=\"ltr\">et si on parlait<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36a4a9c animated-slow pp-dual-heading-inline elementor-invisible elementor-widget elementor-widget-pp-dual-heading\" data-id=\"36a4a9c\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;slideInUp&quot;}\" data-widget_type=\"pp-dual-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"pp-dual-heading\"><span class=\"pp-first-text\">de vos<\/span><span class=\"pp-second-text\"> projets<\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7ab839f\" data-id=\"7ab839f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-62aa665 elementor-align-left elementor-widget elementor-widget-button\" data-id=\"62aa665\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-lg\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-comment\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">parlons-en<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<footer class=\"elementor-section elementor-top-section elementor-element elementor-element-7b3560e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7b3560e\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d3e2855\" data-id=\"d3e2855\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-718a07b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"718a07b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-custom\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-073f1d4\" data-id=\"073f1d4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7714120 elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"7714120\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" id=\"Calque_1\" x=\"0px\" y=\"0px\" viewBox=\"0 0 500 350.9\" style=\"enable-background:new 0 0 500 350.9;\" xml:space=\"preserve\"><style type=\"text\/css\">\t.st0{fill:#BA7F57;}<\/style><g>\t<path class=\"st0\" d=\"M138.7,201.8c-13.1-5.6-27.9-8.7-43.8-8.7C42.4,193.2,0,228.3,0,271.9c0,43.5,42.4,78.7,94.9,78.7  c15.9,0,30.7-3.1,43.8-8.7c-30.4-13.1-51.4-39.6-51.4-70.1C87.4,241.4,108.3,215.2,138.7,201.8z\"><\/path>\t<path class=\"st0\" d=\"M237.5,314.4c-35.4-41.9-48.4-101-28.8-156.4c5.9-16.5,14.5-31.4,24.9-44.6c-8.9-24.4-32.2-42-59.7-42  c-7.5,0-15.1,1.4-22.1,4.2v41.9v33.2v135.4c0,35.2,28.5,63.6,63.6,63.6c12.2,0,24-3.6,34.2-10c1.7-1.1,3.5-2.1,5.2-3.4l2.8-2.2  C250.3,328.1,243.6,321.5,237.5,314.4z\"><\/path>\t<path class=\"st0\" d=\"M74.7,160.6c24.8,0,44.8-20.1,44.8-44.8c0-24.8-20.1-44.8-44.8-44.8S29.8,91,29.8,115.8  C29.8,140.5,49.9,160.6,74.7,160.6z\"><\/path>\t<path class=\"st0\" d=\"M317.2,164.4c14.8-41.6,47.4-71.7,86-85.1c-71.7-24-149.9,13.7-175.6,85.4c-25.7,72.6,12.3,152.4,84.9,178.1  c31,11.2,63.4,10.3,92.1,0.6c-0.8-0.3-1.7-0.6-2.5-0.8C329.5,316.5,291.5,237,317.2,164.4z\"><\/path>\t<path class=\"st0\" d=\"M413.8,260.3c0,47.5,38,87.2,85.5,87.3c0.2,0,0.5,0,0.7,0V0h-86.2V260.3z\"><\/path><\/g><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-53e2984 pp-dual-heading-inline elementor-widget elementor-widget-pp-dual-heading\" data-id=\"53e2984\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"pp-dual-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"pp-dual-heading\"><span class=\"pp-first-text\">AD<\/span><span class=\"pp-second-text\">MAIORA<\/span><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-8a98dd5 elementor-hidden-mobile elementor-hidden-tablet\" data-id=\"8a98dd5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-69a1f96 elementor-widget elementor-widget-text-editor\" data-id=\"69a1f96\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Conseiller en investissement financier et courtier d&rsquo;assurance enregistr\u00e9 au Registre unique des interm\u00e9diaires en assurance, banque et finance sous le num\u00e9ro 22004293 (www.orias.fr) en qualit\u00e9 d&rsquo;adh\u00e9rent de la<br \/>Chambre nationale des conseils en gestion de patrimoine,<br \/>association agr\u00e9\u00e9e par l\u2019Autorit\u00e9 des march\u00e9s financiers.<\/p><p>SAS au capital social de 1.000 euros<\/p><p>Immatricul\u00e9e au Registre du Commerce et des Soci\u00e9t\u00e9s de Grenoble sous le num\u00e9ro 915 349 518 RCS GRENOBLE<\/p><p>Si\u00e8ge social situ\u00e9 au 29 Rue des Glairaux 38120 Saint-Egr\u00e8ve<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-14be11e\" data-id=\"14be11e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b692c19 elementor-widget elementor-widget-heading\" data-id=\"b692c19\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Follow Us<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8753da4 elementor-shape-circle e-grid-align-right elementor-grid-0 elementor-widget elementor-widget-social-icons\" data-id=\"8753da4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"social-icons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-social-icons-wrapper elementor-grid\" role=\"list\">\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-linkedin elementor-repeater-item-43eca71\" href=\"https:\/\/www.linkedin.com\/company\/ad-maiora-gestion-de-patrimoine\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Linkedin<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-linkedin\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-instagram elementor-repeater-item-d550229\" href=\"https:\/\/instagram.com\/ad_maiora_patrimoine?igshid=YmMyMTA2M2Y=\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Instagram<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-instagram\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-facebook-f elementor-repeater-item-9758c9c\" href=\"https:\/\/www.facebook.com\/ADMAIORAGestiondePatrimoine\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Facebook-f<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-facebook-f\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-c03ef3e elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c03ef3e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-64c8b44\" data-id=\"64c8b44\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9989bc7 elementor-widget elementor-widget-text-editor\" data-id=\"9989bc7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>AD MAIORA \u2022 Gestion de patrimoine \u2022 Tous droits r\u00e9serv\u00e9s \u2022 2022<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-e0a2783\" data-id=\"e0a2783\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8f39abe elementor-widget elementor-widget-text-editor\" data-id=\"8f39abe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>AD MAIORA <span style=\"color: #ff0000;\">\u2764<\/span><strong> <a href=\"mailto: sodagraphique@gmail.com\">SodaGraphique<\/a><\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/footer>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>AD maiora Nos&nbsp;r\u00e9dactions&nbsp; Nos&nbsp;opportunit\u00e9s&nbsp; Nos&nbsp;recherches \u00ab\u00a0Vers de plus grands projets\u00a0\u00bb Inflation &amp; hausse des<\/p>\n","protected":false},"author":1,"featured_media":4217,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_canvas","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-2480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-immobilier"],"_links":{"self":[{"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts\/2480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/comments?post=2480"}],"version-history":[{"count":0,"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/posts\/2480\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/media\/4217"}],"wp:attachment":[{"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/media?parent=2480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/categories?post=2480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-maiora.fr\/index.php\/wp-json\/wp\/v2\/tags?post=2480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}