Completion of the disposal of the student housing assets
Gecina has successfully completed, as scheduled on June 25th 2025, the disposal of its student housing assets to the joint venture between Nuveen Real Estate (on behalf of TIAA) and GSA, based on a disposal price of €538 million (excl. duties). The portfolio comprises 20 operational assets and 2 development projects, generating net rent after operating platform costs of €20.8 million in 2024.
The transaction, together with other disposals achieved in Q1 2025, will strengthen the Group’s financial structure, maintaining a best-in-class LTV ratio.
Concurrently, the Group will strengthen its unique footprint in the highest-performing areas of the Paris region, through investments in a pipeline of three flagship, high-yield office developments in Paris and Neuilly (representing c. €500 million still to invest), along with the strategic acquisition of an office complex adjacent to the vibrant Saint-Lazare hub, scheduled for summer 2025, for €435 million (including duties).
Beñat Ortega, Chief Executive Officer: “Alongside the acquisition of a major office complex in one of our core locations (Paris Saint-Lazare), this transaction clearly illustrates the Group’s strategy and agility in continuously optimizing capital allocation through the disposal of mature assets and disciplined reinvestment in higher-yielding prime office opportunities.”
To safeguard its communications, Gecina certifies its contents with Wiztrust. You can check their authenticity at www.wiztrust.com.
Contacts
-
-
Nicolas BROBAND
Director of Financial Communication and Investor Relations
-
-
Glenn Domingues
Director of Public Affairs and Corporate Communications
