Parigi, Gecina acquisisce la “Tour Van Gogh” adiacente alla Gare de Lyon

Gecina has completed on its purchase of the “Tour Van Gogh” building from the Klésia group,

under the conditions set out in the preliminary sales agreement (see the press release from July 6,

2015).

This 19,000 sq.m building, which previously housed the Mornay group’s headquarters is now

vacant and will be fully redeveloped, with delivery scheduled for mid-2018. Gecina will be applying

for its building permit within the next few weeks. The total investment is expected to represent

close to 150 million euros, achieving a yield on cost of around 6%, with an unleveraged IRR of over

9%, significantly higher than Gecina’s requirements.

The building is located at the heart of the Gare de Lyon / Austerlitz / Bercy business district, with

outstanding public transport and road network connections. The building is adjacent to the Gare

de Lyon transport hub, with mainline train services between Paris and the South of France, as well

as the RER regional express lines A and D, Metro lines 1 and 14, and more than a dozen bus

services. The extension of line 14 of the Paris Metro, planned for 2019 to 2023, will establish Gare

de Lyon as a key hub within the Grand Paris transport project.

This operation will further strengthen Gecina’s pipeline for committed projects that will drive value

creation for the Group over the coming years. For reference, the pipeline of committed and

controlled projects represented over 2.8 billion euros of investments at June 30, 2015.

On this operation, the seller was advised by Aktis Partners, Thibierge, De Pardieu Brocas Maffei and

BNP Paribas Real Estate. Gecina was advised by Wargny Katz, ORFEO and CMS Bureau Francis

Lefebvre.

Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the SBF 120, FTSE4Good, DJSI

Europe and World, Stoxx Global ESG Leaders, Euronext 100 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. Gecina owns, manages and develops property holdings worth 10.6 billion euros at June 30, 2015, with 90% located in the

Paris Region. This real estate company’s business is built around France’s largest office portfolio, as well as residential assets,

student residences and healthcare facilities. 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.

Source : Company

Testata giornalistica non registrata ai sensi dell’Art.3 bis del D.L. 18 maggio 2012, n. 63 convertito in Legge 16.07.2012 n°103

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