PARIS--(BUSINESS WIRE)--Regulatory News:
Gecina (Paris:GFC) 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”.
Gecina, living the city in a different way
Gecina owns, manages and develops property holdings worth 19.6 billion euros at end-2017, with nearly 93% 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, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good, DJSI Europe and World, Stoxx Global ESG Leaders and Vigeo indices. In line with its community commitments, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.