Gecina finalizes the sale of a portfolio of assets in Lyon to Primonial REIM
Gecina has finalized the sale of a portfolio of office buildings in Lyon to Primonial REIM, following the preliminary sales agreement signed in summer 2018, for €266m including commissions and fees.
This portfolio of nine buildings, representing a total of nearly 60,000 sq.m, notably includes the Terralta, Panoramic and Murano office buildings at the heart of Lyon, as well as certain assets in the Greater Lyon Region, in Ecully and Caluire-et-Cuire.
On this transaction, Gecina was advised by the notary’s office Cheuvreux, the law firm De Pardieu Brocas Maffei and Catella Property. Primonial REIM was advised by the notary’s office Allez & Associés, the law firm Fairway and GR Groupe for technical aspects.
Meka Brunel, Gecina’s Chief Executive Officer: “This operation is perfectly in line with the Group’s strategy to further strengthen its specialization in offices in the Paris Region’s most central sectors, with the LTV reduced to less than 40% as announced when Eurosic was acquired”.
Gregory Frapet, Chairman of the Executive Board of Primonial REIM: “This operation is effectively aligned with our strategy to invest in quality office buildings in established sectors. Let to outstanding tenants, this portfolio’s buildings are very well located in the Greater Lyon Region and benefit from quality services and facilities, as well as environmental performance, such as BREEAM In-Use, HQE and Effinergie+.
Primonial REIM
A portfolio management company authorized by the French Financial Markets Authority (AMF) in 2011, Primonial Real Estate Investment Management (Primonial REIM) is committed to creating and managing a range of investment vehicles that reflect its strong convictions about real estate markets. Its aim is to make SCPI real estate funds – investing in office, retail, healthcare/education and residential properties – available to the widest possible audience.
As a portfolio management company, Primonial REIM creates and manages real estate CIUs for institutional and retail investors. On June 10, 2014, Primonial REIM obtained AIFM (Alternative Investment Fund Manager) accreditation from the AMF, under which it is subject to increased obligations in areas such as reporting, liquidity monitoring and risk management. Its Executive Board consists of Grégory Frapet, Chairman, Stéphanie Lacroix, CEO, and Tristan Mahaut, Corporate Secretary.
Key figures at June 30, 2018
55,138 investors // €15.2 billion under management // 3,552,329 sq.m of real estate assets managed // 7,000 tenant companies.
PRIMONIAL CONTACTS
Press contacts
Madeleine Peragut
Tel: +33 (0)1 44 21 71 72 - (0)6 48 49 99 93
madeleine.peragut@primonial.fr
Mélodie Blondel
Tel: +33 (0)1 44 21 71 48 - (0)6 74 05 12 44
melodie.blondel@primonial.fr
Anne-Christine Baudin
Tel: +33 (0)1 44 21 70 74 - (0)6 70 21 91 42
anne-christine.baudin@primonial.fr
Press agency – Citigate Dewe Rogerson
Alexandre Dechaux
Tel: +33 (0)7 62 72 71 15
Primonial@citigatedewerogerson.com
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Contacts
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Julien Landfried
Executive Director Communications, Public Affairs and Brand
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