Gecina finalizes the sale of five office buildings in Boulogne-Billancourt, Vincennes and Antony for €112m excluding duties
Gecina is announcing that it has agreed to sell five office buildings located outside of Paris, representing a total of over 25,000 sq.m, for nearly €112m excluding duties, achieving a premium versus their latest free appraisal values from end-2019.
These sales are in line with the Group’s portfolio rationalization strategy in order to further strengthen its centrality.
On December 16, Gecina finalized the sale of a portfolio of four multi-tenant buildings in Boulogne-Billancourt and Vincennes representing nearly 12,000 sq.m to Carac, Mutual Savings, Retirement and Provident Fund, advised by Atream.
On December 15, the Group also finalized the sale of an office building in Antony with around 13,600 sq.m to the PATRIMONI Group.
On these operations, Gecina was advised by the notary’s office Cheuvreux.
Méka Brunel, Chief Executive Officer: “By selling mature and non-strategic assets for the Group, Gecina is continuing to move forward, in the current context, with the strategy to realign its portfolio and further strengthen its exposure to the Paris Region’s most central sectors”.
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