trending Market Intelligence /marketintelligence/en/news-insights/trending/Y3oKZI8H5bvEt4Lyt0iIAA2 content esgSubNav
In This List

Gecina inks almost €120M worth of deals to buy, sell Paris assets

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection

Video

S&P Capital IQ Pro | Powered by Advanced Visualization

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Gecina inks almost €120M worth of deals to buy, sell Paris assets

Gecinaagreed to buy a building for €63.8 million and sell another asset in Paris'central business district, for €56.0 million.

The company said it signed a preliminary sales agreement toacquire a 10,000-square-meter office building on Rue de Madrid as part of itsstrategy to invest in the Paris regions' central locations.

The building has 114 parking spaces and is partially let. Itis expected to be vacated by the end of 2016, following which, it will undergoa redevelopment with final delivery slated for 2019. The project is expected togenerate a yield on cost of more than 6.2%. The acquisition is scheduled to befinalized in September.

On Rue de la Bourse, Gecina inked a deal to divest a nearly5,000-square-meter mixed-use asset comprised of predominantly offices, alongwith retail units and housing. The deal will result in a loss of rental incomeof less than 3.9% for Gecina.

The transactions are expected to generate a combinedmarginal yield on cost of about 8%.