Paris-based REIT/SIIC Gecina has sold two office portfolios located outside Paris for €775 million ($905 million).
These buildings, from the former Eurosic scope, will be sold for a price in line with their June 2017 appraisals. The sales will be finalized before the end of 2018 once the standard conditions precedent have been cleared.
The two transactions and the other sales finalized recently take the firm’s volume of sales completed or under preliminary agreements since the start of the year up to nearly €1.2 billion ($1.4 billion).
These transactions have also further strengthened Gecina’s position in areas of scarcity and centrality at the heart of the Paris Region’s urban hubs.
These agreements increase the total volume of sales completed or secured since Eurosic’s acquisition to nearly €1.6 billion ($1.9 billion), in line with the target announced by Gecina in summer 2017 to roll out a sales program for €1.2 billion ($1.4 billion)
