Gecina finalizza la vendita di un portfolio office da 266 mn a Lione a Patrimonial REIM

 Gecina 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+.

Source : Company