PARIS--(BUSINESS WIRE)--Regulatory News:
Gecina (Paris:GFC) has signed a lease for a firm six-year period with an outstanding tenant for 11,000 sq.m of space in the Le Valmy building in Paris' 20th arrondissement.
This space, which is currently let by the French Ministry of Finance, will be relet immediately following the current tenant's departure, expected for end-2017, confirming Gecina's ambition and ability to anticipate the Group's main rental challenges very early on.
Alongside this, the tenant, which already rented more than 5,000 sq.m in this building, has extended its commitment for this space, in line with this Group's plans to strengthen its presence at this site over the long term.
On this operation, Gecina was advised by BNP Paribas Real Estate.
“Gecina is delighted with this latest transaction with an outstanding tenant and longstanding partner. This operation also highlights the dynamic approach and agility shown by Gecina's teams for managing the Group's rental challenges, in line with the operational priorities as set out in the past few weeks,” confirms Méka Brunel, Chief Executive Officer.
Gecina, a leading real estate group
Gecina owns, manages and develops property holdings worth 12.1 billion euros at end-2016, with nearly 97% located in the Paris Region. The Group is building its business around France’s leading office portfolio and a diversification division with residential assets and student residences. Gecina has put sustainable innovation at the heart of its strategy to create value, anticipate its customers' expectations and invest while respecting the environment, thanks to the dedication and expertise of its staff.
Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the SBF 120, Euronext 100, FTSE4Good, DJSI Europe and World, Stoxx Global ESG Leaders and Vigeo indices. In line with its commitments to the community, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.