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Icade Capital/Financing Update 2019
1424_iss_2019-05-29_7a2f4c5e-44cd-4daa-a169-6dfcc7ecc12c.pdf
Capital/Financing Update
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Icade announces "Castel Office" building in Marseille now 100% leased
On May 23, Icade signed a 12-year lease with no break option with Solimut Mutuelle de France for 4,547 sq.m in the "Castel Office" office building, located at Quai de la Joliette in Marseille (2nd arrondissement), in the Euroméditerranée district.
With this transaction, which occurred after entering into a 9-year lease with Deloitte on April 24 for 1,413 sq.m, the building is now entirely leased, several weeks before its scheduled completion in early July. Both leases will start on July 1, 2019.
The signing of this lease has allowed Icade to pre-let all of the building's office space, demonstrating its ability to create value through its development pipeline.
As of December 31, 2018, the development pipeline totalled €2.5 billion in projected investments. Value creation is expected to represent €0.7 billion, of which 60% remains to be captured in the NAV.
ABOUT ICADE
Building for every future
As an investor and a developer, Icade is an integrated real estate player which designs innovative real estate products and services adapted to new urban lifestyles and habits. By placing corporate social responsibility and innovation at the core of its strategy, Icade is working closely with stakeholders and users in the cities—local authorities and communities, companies and employees, institutions and associations… As an office and healthcare property investor (portfolio value of €11.3bn as of 12/31/18 on a proportionate consolidation basis) and as a property developer (2018 economic revenues of €1,251m), Icade has been able to reinvent the real estate business and foster the emergence of tomorrow's greener, smarter and more responsible cities. Icade is a significant player in the Greater Paris area and major French cities. Icade is listed on Euronext Paris as a French Listed Real Estate Investment Company (SIIC). Its leading shareholder is the Caisse des dépôts Group.
The text of this press release is available on the Icade website: www.icade.fr
CONTACTS
Anne-Sophie Lanaute Head of Financial Communication and Investor Relations +33(0)1 41 57 70 29 +33(0)1 41 57 71 19 [email protected] [email protected]
Charlotte Pajaud-Blanchard Press relations manager