Paris, France, June 30, 2020

Gecina acquires a residential complex in the heart of Paris

Gecina is making its first residential acquisition through the dedicated subsidiary that it has created, in line with the Group’s ambition to support housing around a long-term view.

This building at 66 rue de Ponthieu in Paris’ 8th arrondissement has 52 apartments and various ground-floor retail units, with a price of €33.1m excluding duties and a total of nearly 4,100 sq.m.

The Group is confirming its plans to deploy its know-how in line with opportunities, on the buoyant residential markets in Paris, the Paris Region and certain major cities across France.

On this operation, Gecina was advised by the law firm LPA-CGR and the notary’s office Wargny-Katz.

 

Méka Brunel, Chief Executive Officer: “This operation clearly illustrates Gecina’s resolute return to the rental residential market with a view to contributing, over the long term, to the residential experience provided for people. We will be deploying the Group’s resources to support this in terms of CSR, innovative operating technologies and customer relations thanks to YouFirst Residence.

With the creation of a dedicated subsidiary to house our residential business, we will continue to build on and further strengthen this progress. We will therefore continue to look closely at potential opportunities for growth and value creation that we identify in this sector”.

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