Gecina: Office Assets Sold for a Total of €349.3m

PARIS--(BUSINESS WIRE)--Regulatory News:

Gecina (Paris:GFC) has completed or secured three new sales of mature and/or non-strategic office assets located in Arcueil (94), Levallois-Perret (92) and Montreuil (93), for a total of €349.3m.

On May 6, Gecina signed a bilateral sales agreement concerning the Les Portes d’Arcueil building (Val de Marne) for €297.8m excluding duties. The sale is expected to be completed in July, once the conditions precedent have been cleared. This office asset, with around 45,000 sq.m of space, is occupied by the Orange group, which renewed its lease at the end of 2020 for a firm 12-year period.

On May 12, 2021, the Group also signed a preliminary sales agreement for Tour Orion, a building with around 12,200 sq.m of space in Montreuil (Seine-Saint-Denis), based on a price of €25.5m excluding duties. The sales agreement is expected to be completed by the end of July at the latest.

Lastly, in Levallois-Perret (Hauts-de-Seine), Gecina has sold 55 Deguingand, an office building with around 5,100 sq.m of space, for a total of €26m excluding duties.

These sales now take the volume of sales completed since the start of the year or under preliminary agreements to date up to €450m, achieving an average premium versus the end-2020 values of around +7%.

Gecina is continuing to move forward with its proactive portfolio rotation and the realignment of its portfolio at the heart of the Paris Region’s most central sectors.

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 nearly 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 19.7 billion euros at end-2020.

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, CAC 40 ESG 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