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Icade — M&A Activity 2017
Nov 27, 2017
1424_iss_2017-11-27_04fdea64-8715-4cf4-b5a2-d34ab3ca4572.pdf
M&A Activity
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GECINA SIGNS A PRELIMINARY AGREEMENT WITH ICADE TO SELL THE PONANT D BUILDING
Gecina has signed a preliminary sales agreement with Icade for building D in the "Le Ponant" complex in Paris' 15th arrondissement for €55.5m including commissions and fees. The sale is expected to be completed before the end of the year.
This building, with nearly 5,800 sq.m of space, is fully occupied by an outstanding tenant.
For Icade, this asset completes a real estate complex close to 22,000 sq.m of space acquired in 2016.
For Gecina the sale of this building, from Eurosic's portfolio, under conditions aligned with the Group's requirements, is part of the divestment plan announced when Eurosic was acquired.
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 closely involved with stakeholders and users in the cities local authorities and communities, companies and employees, institutions and associations… As a commercial and healthcare property investor (portfolio value of €9.9bn as of 06/30/17) and as a property developer (2016 economic revenues of €1,005m), Icade is 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
| Guillaume Tessler, Charlotte Pajaud-Blanchard, Head of financial communication Press relations manager and investor relations +33(0)1 41 57 71 19 +33(0)1 41 57 71 61 [email protected] [email protected] |
CONTACTS | |
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Gecina, living the city in a different way
Gecina owns, manages and develops property holdings worth 19.5 billion euros at end-August 2017, with nearly 92% located in the Paris Region. The Group is building its business around France's leading office portfolio and a diversification division with residential assets and student residences. Gecina has put sustainable innovation at the heart of its strategy to create value, anticipate its customers' expectations and invest while respecting the environment, thanks to the dedication and expertise of its staff.
Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the SBF 120, Euronext 100, FTSE4Good, DJSI Europe and World, Stoxx Global ESG Leaders and Vigeo indices. In line with its community commitments, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.
GECINA CONTACTS
Financial communications Press relations Samuel Henry-Diesbach Tel: +33 (0)1 40 40 52 22 [email protected] Virginie Sterling Tel: +33 (0)1 40 40 62 48 [email protected]
Brigitte Cachon Tel: +33 (0)1 40 40 62 45 [email protected] Armelle Miclo Tel: +33 (0)1 40 40 51 98 [email protected]