Gecina : €1bn of Sales Since the Start of the Year
June 20 2023 - 11:51AM
Business Wire
Regulatory News:
With the sales agreement signed for the 101 Champs-Elysées
building in the heart of the “triangle d’or” of the Paris CBD
district, Gecina (Paris:GFC) has completed or secured nearly €1bn
of sales since the start of the year, representing around 42,000
sq.m of offices and residential assets.
In the first and second quarter of the year, the Group completed
or secured the sale of three office buildings in Paris’ Central
Business District (129 Malesherbes, 142 Haussmann, and 43
Friedland), representing around 5,000 sq.m, as well as an office
building in Cergy Pontoise (10,000 sq.m) and the Abreuvoir
residential building in Courbevoie (16,600 sq.m).
Gecina also finalized today the disposal of the 101
Champs-Elysées building offering around 10,000 sq.m of space,
including 40% retail, with the rest mainly comprising offices. It
is currently occupied by the company Louis Vuitton Malletier.
All of the sales secured this year have achieved a premium
versus the latest appraisal values, with an average premium of
around +10% and an average rate for the loss of rental income of
2.5%.
Beñat Ortega, Chief Executive Officer: “These
transactions reflect Gecina’s strategic commitment to continuing to
optimize its capital allocation in order to further
consolidate the solidity of its financial structure and
secure financing for a pipeline located primarily in Paris
and Neuilly, driving value creation and growth, while opening up
opportunistic financial headroom in the current and future real
estate markets”.
About Gecina
As a specialist for centrality and uses, Gecina operates
innovative and sustainable living spaces. The Group owns, manages
and develops Europe’s leading office portfolio, with over 97%
located in the Paris Region, and a portfolio of residential assets
and student residences, with over 9,000 apartments. These
portfolios are valued at 20.1 billion euros at end-2022.
Gecina has firmly established its focus on innovation and its
human approach at the heart of its strategy to create value and
deliver on its purpose: “Empowering shared human experiences at
the heart of our sustainable spaces”. For our 100,000 clients,
this ambition is supported by our client-centric brand YouFirst. It
is also positioned at the heart of UtilesEnsemble, our program
setting out our solidarity-based commitments to the environment, to
people and to the quality of life in cities.
Gecina is a French real estate investment trust (SIIC) listed on
Euronext Paris, and is part of the SBF 120, CAC Next 20, CAC Large
60 and Euronext 100 indices. Gecina is also recognized as one of
the top-performing companies in its industry by leading
sustainability benchmarks and rankings (GRESB, Sustainalytics,
MSCI, ISS ESG and CDP). www.gecina.fr
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GECINA CONTACTS
Financial communications
Samuel Henry-Diesbach Tel: +33 (0)1 40 40 52 22
Samuelhenry-diesbach@gecina.fr
Sofiane El Amri Tel: +33 (0)1 40 40 52 74
sofianeelamri@gecina.fr
Press relations
Glenn Domingues Tel: +33 (0)1 40 40 63 86
Glenndomingues@gecina.fr
Armelle Miclo Tel: +33 (0)1 40 40 51 98
armellemiclo@gecina.fr
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