Regulatory News:
Gecina (Paris:GFC) has finalized the sale of a portfolio of office buildings in Lyon to Primonial REIM, following the preliminary sales agreement signed in summer 2018, for €266m including commissions and fees.
This portfolio of nine buildings, representing a total of nearly 60,000 sq.m, notably includes the Terralta, Panoramic and Murano office buildings at the heart of Lyon, as well as certain assets in the Greater Lyon Region, in Ecully and Caluire-et-Cuire.
On this transaction, Gecina was advised by the notary's office Cheuvreux, the law firm De Pardieu Brocas Maffei and Catella Property. Primonial REIM was advised by the notary's office Allez Associés, the law firm Fairway and GR Groupe for technical aspects.
Meka Brunel, Gecina's Chief Executive Officer: "This operation is perfectly in line with the Group's strategy to further strengthen its specialization in offices in the Paris Region's most central sectors, with the LTV reduced to less than 40% as announced when Eurosic was acquired".
Gregory Frapet, Chairman of the Executive Board of Primonial REIM: "This operation is effectively aligned with our strategy to invest in quality office buildings in established sectors. Let to outstanding tenants, this portfolio's buildings are very well located in the Greater Lyon Region and benefit from quality services and facilities, as well as environmental performance, such as BREEAM In-Use, HQE and Effinergie+".
About Gecina
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 commitments to the community, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.
www.gecina.fr
About Primonial
Primonial REIM
A portfolio management company authorized by the French Financial Markets Authority (AMF) in 2011, Primonial Real Estate Investment Management (Primonial REIM) is committed to creating and managing a range of investment vehicles that reflect its strong convictions about real estate markets. Its aim is to make SCPI real estate funds investing in office, retail, healthcare/education and residential properties available to the widest possible audience.
As a portfolio management company, Primonial REIM creates and manages real estate CIUs for institutional and retail investors. On June 10, 2014, Primonial REIM obtained AIFM (Alternative Investment Fund Manager) accreditation from the AMF, under which it is subject to increased obligations in areas such as reporting, liquidity monitoring and risk management. Its Executive Board consists of Grégory Frapet, Chairman, Stéphanie Lacroix, CEO, and Tristan Mahaut, Corporate Secretary.
www.primonialreim.com
Key figures at June 30, 2018
55,138 investors // €15.2 billion under management // 3,552,329 sq.m of real estate assets managed // 7,000 tenant companies.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181122005340/en/
Contacts:
GECINA
Financial communications
Samuel Henry-Diesbach
Tel: +33 (0)1 40 40 52 22
samuelhenry-diesbach@gecina.fr
Virginie Sterling
Tel: +33 (0)1 40 40 62 48
virginiesterling@gecina.fr
Press relations
Julien Landfried
Tel: +33 (0)1 40 40 65 74
julienlandfried@gecina.fr
Armelle Miclo
Tel: +33 (0)1 40 40 51 98
armellemiclo@gecina.fr
PRIMONIAL
Press contacts
Madeleine Peragut
Tel: +33 (0)1 44 21 71 72 (0)6 48 49 99 93
madeleine.peragut@primonial.fr
Mélodie Blondel
Tel: +33 (0)1 44 21 71 48 (0)6 74 05 12 44
melodie.blondel@primonial.fr
Anne-Christine Baudin
Tel: +33 (0)1 44 21 70 74 (0)6 70 21 91 42
anne-christine.baudin@primonial.fr
Press agency Citigate Dewe Rogerson
Alexandre Dechaux
Tel: +33 (0)7 62 72 71 15
Primonial@citigatedewerogerson.com