Paris, France, December 2, 2019

Gecina signs a bilateral sales agreement with La Française on behalf of ERAFP and SCPI to sell the “Park Azur” building for €185m

Gecina has signed a bilateral sales agreement with La Française on behalf of ERAFP and SCPI concerning the “Park Azur” building in Montrouge for €185m excluding duties. The definitive sales agreement is expected to be signed by the end of 2019.

This office asset, with nearly 24,000 sq.m of space, is fully let to the National Nuclear Research Center (EDF Group) under a firm eight-year lease.

Since the start of the year, Gecina has sold or signed provisional or definitive sales agreements for €984m, achieving an average premium of around +12% versus their appraisal values.

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