Gecina has secured nearly €570m of office sales, with an average premium of +13% versus the latest appraisals
In line with the objective announced by Gecina when it acquired Eurosic to roll out a sales program for a minimum of €1.2bn, the Group has already completed or secured €571m (Group share) of sales of real estate assets or financial investments, with €379m finalized to date and the balance covered by preliminary agreements. Almost half of the minimum sales program has therefore already been secured, achieving an average premium of around +13% versus the latest appraisals.
These sales concern non-strategic, secondary and/or mature assets, with 74% from the former Eurosic scope. They also include the divestment of interests initially held by Eurosic in certain Parisian buildings.
Méka Brunel, Chief Executive Officer: “Gecina is continuing to successfully deploy the roadmap presented when it acquired Eurosic, notably benefiting from the strong appetite among investors for office real estate in France to move forward, more quickly than forecast, with its asset rotation program under excellent conditions”.
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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...