Regulatory News:
Gecina (Paris:GFC) is announcing that it has acquired an off-plan student residence from Icade Promotion and the higher education group Ynov.
Located at the gateway to Paris, in Ivry-sur-Seine, and covered by Metro line 7, this residence is scheduled to open for the start of the 2021 academic year and is part of a campus for a future school that will be operated by the Ynov group, specialized in the digital, cinema and audiovisual sectors. It will be accompanied by the creation of a municipal sports center and public garden.
Designed by the architects RRC Architectes and Pierre Raoux, the student residence will be NF Habitat HQE Excellent certified and offer 367 beds and almost 450 sq.m of outstanding communal areas (fitness center, work rooms, etc.). The total investment represents €41m.
With a student residence portfolio of over €307m at end-June, Gecina, the leading integrated student residence group, is continuing to develop its subsidiary Campuséa, with a pipeline of almost €100m of projects under development, enabling it to offer nearly 3,700 beds by 2021.
Through this investment, Campuséa will be able to further strengthen its network of residences in Paris and offer complementary accommodation solutions for its partner schools and universities, as well as their students.
On this operation, Gecina was advised by the notary's office Wargny Katz.
Gecina, living the city in a different way
Gecina owns, manages and develops property holdings worth 19.8 billion euros at end-June 2018, 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.
www.gecina.fr
View source version on businesswire.com: https://www.businesswire.com/news/home/20181018005766/en/
Contacts:
GECINA CONTACTS
Financial communications
Samuel Henry-Diesbach
Tel: +33 (0)1 40 40 52 22
samuelhenry-diesbach@gecina.fr
or
Virginie Sterling
Tel: +33 (0)1 40 40 62 48
virginiesterling@gecina.fr
or
Press relations
Julien Landfried
Tel: +33 (0)1 40 40 65 74
julienlandfried@gecina.fr
or
Armelle Miclo
Tel: +33 (0)1 40 40 51 98
armellemiclo@gecina.fr