Paris, France, May 22, 2018

With the acquisition of 8 rue des Graviers for €30.5m, Gecina creates an office complex with nearly 20,000 sq.m at the heart of Neuilly

Gecina has acquired, through a privately negotiated deal with an institutional investor, an office building with almost 5,000 sq.m and 70 parking spaces at 8 rue des Graviers in Neuilly-sur-Seine, creating a combined complex of around 20,000 sq.m with the adjacent buildings already owned by the Group. This operation was finalized based on a price of €30.5m including commissions and fees.

This acquisition is in line 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 acquisition of this building, which is nearly 50% let currently, has created an office complex on Neuilly’s main road and transport link connecting La Défense to Paris’ central business district.

 

 

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

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