Gecina lets 10,000 sq.m in the “Pointe Métro 2” building to CREDIPAR and the PSA Peugeot Citroën Group

Paris, France, February 24, 2016

On February 19, 2016, Gecina signed two nine-year leases with CREDIPAR and the PSA Peugeot Citroën Group for nearly 10,000 sq.m in the “Pointe Métro 2” building in Gennevilliers, representing 77% of this asset’s total space. Under these leases, the space will be made available
to the two tenants from mid-March 2016.
 

These premises will house the corporate activities of Banque PSA Finance, the PSA Peugeot Citroën Group’s financing subsidiary, and SOFIB/CREDIPAR, the operational entity in France owned 50-50 by Banque PSA Finance and Santander Consumer Finance.

The terms of this transaction are in line with current market conditions for a new building in this area, and identical to the assumptions for the latest appraisals from June 30, 2015.

For reference, the vacancy rate on Gecina’s office portfolio was 4.7% at June 30, 2015, and this could therefore be reduced to less than 4%.

“Pointe Métro 2” is located less than 50 meters from the Gabriel Péri metro station on Line 13. It is HQE Construction “Exceptional”, HQE In-Use “Excellent” and BBC energy efficiency certified.

On this transaction, Gecina was advised by Cushman & Wakefield and by Constance de la Hosseraye from the law firm Taylor Wessing. The PSA Peugeot Citroën Group was advised by Strategies & Corp and the law firm Gide Loyrette Nouel (Frédéric Nouel and Antoine Mary), while CREDIPAR
was advised by the law firm Norton Rose Fulbright LLP (Jean-Pascal Bus).

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