PARIS--(BUSINESS WIRE)--Regulatory News:
Gecina (Paris:GFC) is further strengthening its portfolio’s centrality and quality by selling the Pointe Metro 2 building to Paris Office Partnership, a JV owned by PGGM and Foncière Atland, for €58.2m excluding duties.
The amount of this transaction is in line with the latest appraisals from end-June 2019.
This building, located in Gennevilliers (Hauts-de-Seine), was delivered in 2012 and offers nearly 15,000 sq.m, including 13,000 sq.m of offices. Today, it is occupied primarily by a PSA Peugeot Citroën Group subsidiary.
On this transaction, Gecina was advised by Oudot & Associés and Catella. Paris Office Partnership was advised by Cheuvreux.
Gecina, at the heart of urban life
Gecina owns, manages and develops property holdings worth 19.9 billion euros at end-June 2019. As a specialist for centrality and uses, the Group is building its business around Europe’s leading office portfolio, with nearly 97% located in the Paris Region, and a diversification division with residential assets and student residences. Gecina has put sustainable innovation at the heart of its strategy to create value and anticipate the expectations of around 100,000 customers and end users, thanks to the dedication and expertise of its staff, who are committed to an understated, fluid and inclusive city. To offer its customers high-quality services and support their changing needs, Gecina has launched YouFirst, its relational brand.
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.