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Icade Regulatory Filings 2019
1424_iss_2019-12-18_40d9d841-5570-438e-853f-78c472b672d5.pdf
Regulatory Filings
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ICADE'S PULSE BUILDING FULLY LEASED TO THE ORGANISING COMMITTEE FOR THE PARIS 2024 OLYMPIC AND PARALYMPIC GAMES
Icade signed a 4.5-year lease with no break option with the Organising Committee for the Paris 2024 Olympic and Paralympic Games for the 28,860-sq.m Pulse office building located in Saint-Denis, in the Portes de Paris business park, directly next to the Front Populaire metro station.
This 7-storey, wood-framed building has obtained top environmental labels and certifications, namely HQE, BREEAM, BBCA (low-carbon building) and E2C1. It is part of a strategy to maximise the value of Icade's Office Property Investment Division's land bank, in line with its growth trajectory.
The lease will commence in 2020 and will have a positive impact of over 2% on the financial occupancy rate for Icade's Office Property Investment Division.
The signing of this lease has allowed Icade to continue to expand its portfolio in northeast Paris. In addition, as soon as the necessary permits are obtained, Icade will start construction on the 18,000-sq.m Jump building, which includes 4,000 sq.m of hotel space, located next to the Pulse building on Place du Front Populaire.
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 €11.7bn as of 06/30/19 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/en/
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