Gecina sells four non-strategic assets for € 83 million


PARIS–(COMMERCIAL THREAD) – Regulatory news:

Gecina (Paris: GFC) finalized the sale of four non-strategic assets for a total of € 83 million excluding transfer duties. These sales, following the sales agreements signed in July, recorded an average premium of around 12.5% ​​compared to appraisals at the end of 2020, with a loss in rental income representing 2.5%.

On September 15, Gecina signed an agreement with the UNOFI Group, on behalf of its insurance company, for the sale of a fully occupied office building of approximately 3,000 m² rue Louise-Michel in Levallois-Perret ( 92), for € 43.9 million excluding rights.

On October 1, Gecina also finalized the sale of a portfolio of three assets to a French institutional investor for a total amount of € 39 million excluding transfer duties. This portfolio includes an office building of approximately 2,200 m² in the 10th arrondissement of Paris, a service station in Rueil-Malmaison (92) and a student residence with 239 rooms in Le Bourget (93).

These sales are part of the Group’s strategy to rationalize its portfolio, further strengthening its exposure to the most central sectors. The allocation of the proceeds from these sales will also make it possible to finance the pipeline of development projects leading to growth and value creation in the years to come.

With a project pipeline of € 3.7bn, an LTV including rights of 33.4% and a solid balance sheet at the end of June 2021, Gecina will benefit from a significant financial margin supporting its opportunistic and flexible approach in an international market. dynamic investment. Gecina confirms its forecasts for 2021, with recurring net income per share of € 5.3.

About Gecina

Specializing in centrality and uses, Gecina operates innovative and sustainable living spaces. The Group owns, manages and develops the leading office portfolio in Europe, with nearly 97% located in Ile-de-France, and a portfolio of residential assets and student residences, with more than 9,000 apartments. These portfolios are valued at 20 billion euros at the end of June 2021.

Gecina has firmly anchored its innovation and its human approach at the heart of its strategy of value creation and mission: “Promote shared human experiences at the heart of our sustainable spaces”. For our 100,000 customers, this ambition is driven by our customer-centric brand YouFirst. It is also positioned at the heart of UtilesEnsemble, our label affirming our commitment to the environment, people and quality of life in the city.

Gecina is a 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 2020, Gecina obtained the maximum A score in the CDP ranking on climate change.


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