Gecina finalizes the sale of a portfolio of assets in regions other than Paris for around €525m
Gecina has finalized the sale of a portfolio of office buildings in various regions other than Paris to a group of institutional investors in which the Batipart Group has majority control. The preliminary sales agreement, announced when Gecina reported its half-year earnings, had been secured in summer 2018 for around €525m including commissions and fees.
This portfolio of 33 buildings includes assets located in Nantes, Rennes, Lille, Strasbourg, Toulouse and the Marseille-Aix-en-Provence region.
With this sale and the transaction carried out last week in Lyon with Primonial, Gecina has finalized €775m (excluding duties) of sales outside of the Paris Region following competitive tenders, further strengthening its office portfolio’s positioning in Paris and the Paris Region’s core sectors.
On this transaction, Gecina was advised by the notary’s office Cheuvreux, the law firm De Pardieu Brocas Maffei, and Catella Property.
The buyer was advised by the notary’s office ADDH & Associés (Alexandre Dechin Devriendt et Hoang) and the law firm Darrois Villey Maillot Brochier.
Méka Brunel, Chief Executive Officer: “This transaction is perfectly in line with the Group’s strategy to further strengthen its specialization on offices in the Paris Region’s most central sectors, with the LTV down to less than 40%”.
In order to safeguard its communication, Gecina certify its contents on Wiztrust. You can check the authenticity on the website www.wiztrust.com.
Gecina takes its LTV back down below 40% thanks to nearly €1.2bn of sales secured since January 2018
Gecina has signed preliminary sales agreements for two portfolios of buildings located in various French regions other than Paris for €775m. These buildings, from the former Eurosic scope,[...]
Paris, France, June 25, 2018
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[...]
Paris, France, November 22, 2018
Chief Executive Officer
A business leader in the real estate industry, Méka Brunel is an ETP engineer, an Executive MBA from HEC and FRICS. From 1996, she held various executive management...
Executive Director Investments and Developments
Thibault Ancely is an Essec MBA graduate and brings 14 years’ experience of finance and real estate. In 2001, Thibault joined Capital One Bank, where he held various...