PARIS--(BUSINESS WIRE)--Regulatory News:
Gecina (Paris:GFC) has signed a lease for a firm six-year period with an outstanding tenant for 20 rue de la Ville l’Evêque, at the heart of Paris' central business district (CBD), nine months before it is scheduled for delivery.
This 6,400 sq.m building has been redeveloped since the second quarter of 2016 and will be fully let on delivery, planned for the first quarter of 2018. The yield at delivery for this project should be higher than Gecina's initial expectations.
Since the start of the year, the volume of space let, relet or renegotiated is up to over 50,000 sq.m, in line with Gecina's ambition.
“The signing of this lease also reflects the repositioning of our strategic priorities around creating value by pre-letting assets that are currently under development, enabling us to continue to welcome outstanding customers”, 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.