AI assistant
Icade Regulatory Filings 2022
1424_iss_2022-11-09_aba0091c-6310-40be-b663-1c540b3b628a.pdf
Regulatory Filings
Open in viewerOpens in your device viewer
PRESS RELEASE Paris, November 9, 2022, 6:00 p.m.
ICADE COMPLETES THE SALE OF THE AXE 13 BUILDING IN NANTERRE
In accordance with a bilateral preliminary agreement signed on July 29, 2022 with SCPI Elysées Pierre, a fund managed by HSBC REIM, Icade completed the sale of the AXE 13 building in Nanterre-Préfecture (Hauts-de-Seine) on October 27, 2022.
This over 16,000-sq.m building is fully leased to AXA with a remaining term of over 8 years. It is part of a complex of four buildings built between 2006 and 2010.
Only eight minutes from Paris CBD by public transport, the building adheres to the highest construction and environmental standards. It offers a wide range of amenities (staff restaurant, event space, meeting rooms, auditorium) as well as fully adaptable office space suitable for flex office arrangements.
This building was sold at a price in line with its latest appraised value. This further demonstrates the interest that institutional investors have in quality core office assets such as those in Icade's office portfolio, particularly the ones in the Nanterre-Préfecture area.
Following the sale of the Millénaire 4 and Gambetta buildings in April and June, this new sale brings the volume of disposals since the beginning of the year to nearly €600m1 and marks the successful completion of Icade's 2022 disposal plan as the annual target has been achieved.
The Axe 13 building's intrinsic qualities make it perfectly compatible with SCPI ELYSEES PIERRE's ESG policy put in place in order to meet the standards of the ISR label which it obtained on October 14, 2022.
ABOUT ICADE DESIRABLE PLACES TO LIVE
As an office and healthcare property investment company (portfolio worth €15.5bn on a full consolidation basis as of 06/30/2022) and a developer of homes, offices and public amenities (2021 economic revenue of €1.1bn), Icade designs, builds, manages and invests in cities, neighbourhoods and buildings that are innovative, diverse, inclusive and connected, with a reduced carbon footprint. Desirable places to live and work. In collaboration with its stakeholders, Icade has made low carbon a strategic priority in order to reinvent real estate and create cities that are healthier, happier and more hospitable. Icade is a key player in Greater Paris and major French cities. It is listed as a "SIIC" on Euronext Paris and 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 | Charlotte Pajaud-Blanchard |
| Head of Financial Communication and Investor Relations | Press Relations Manager |
| +33 (0)1 41 57 70 29 | +33 (0)1 41 57 71 19 |
| [email protected] | [email protected] |
1 Includes the sale of Factor E for €49m on a full consolidation basis and other disposals worth €22m
About SCPI Elysées Pierre
Launched in 1986, Elysées Pierre is a regular income SCPI fund managed by an HSBC Group company. It has one of the largest market capitalisations in its sector. The vast majority of the fund's investments are in Paris and its region, made up primarily of office properties occupied by first-rate tenants. This indirect real estate investment in a large portfolio reduces risk and spares shareholders the hassle of managing the properties themselves.
As one of the world's main economic hotspots, the Paris region has exceptional transport infrastructure serving 25% of all French companies. SCPI Elysées Pierre's positioning in this real estate market, Europe's deepest and most liquid, makes it possible to implement a clear-cut investment strategy that generates healthy returns in the long run.
As such, Elysées Pierre acquires high-quality properties that meet the needs of the rental market. Lastly, the management company HSBC REIM takes care of the day-to-day management of the properties in SCPI Elysées Pierre's portfolio.