Paris, France, April 20, 2017

Gecina signs a preliminary agreement to acquire a building on 145 rue de Courcelles in Paris' CBD for 63 million euros, opening up for extensive synergies with “Le Banville”

Gecina has signed a preliminary agreement to acquire an office building on 145 rue de Courcelles, in Paris' Central Business District, for 63 million euros excluding duties. This operation will be subject to the standard suspensive conditions.

This asset offers highly complementary features alongside the adjacent building “Le Banville”, which is already owned by Gecina, opening up possibilities for extensive synergies.

Acquisition in line with the Group's strategy

This acquisition is aligned with Gecina's strategy, aimed at further strengthening its exposure to the Paris Region's most central sectors, where there are growing signs of a rental market upturn. The vacancy rate in Paris' CBD is close to an all-time low, while the current shortage of quality properties in Paris City supports Gecina's confidence in its strategic choices, particularly in terms of rotating its portfolio and positioning its project pipeline.

Méka Brunel, Chief Executive Officer: “The quality of this building's location and its effective fit with one of the assets already owned by the Group are perfectly aligned with our strategy, aiming to further strengthen Gecina's exposure to the Paris Region’s most central business sectors, targeting value creation for our shareholders”.


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