ICADE (EPA:ICAD) - Icade completes the sale of the Open building for €98.8m exl. duties
Transparency directive : regulatory news
03/01/2019 17:45
Click here to download pdf version
PRESS RELEASE
Issy-les-Moulineaux, January 3, 2019
ICADE COMPLETES THE SALE OF THE 'OPEN' BUILDING FOR EUR98.8 MILLION EXCLUDING
DUTIES
On December 28, 2018, pursuant to the preliminary agreement signed last October
25 Icade sold Open (9,200 sq.m), its headquarters building located in
Issy-les-Moulineaux, for EUR98.8 million excluding duties, to a major French
institutional investor. Icade will remain the building's sole tenant under a
lease that was signed at the same time as the sale.
This disposal is consistent with the strategy set out by Icade in July 2018: to
step up asset rotation in the office portfolio through sales of core assets and
reinvest the proceeds from these disposals in development projects of the
Office Property Investment Division as well as in the international expansion
of Icade Santé.
ABOUT ICADE
Building for every future
As an investor and a developer, Icade is an integrated real estate player which
designs innovative real estate products and services adapted to new urban
lifestyles and habits. By placing corporate social responsibility and
innovation at the core of its strategy, Icade is closely involved with
stakeholders and users in the cities- local authorities and communities,
companies and employees, institutions and associations... As an office and
healthcare property investor (portfolio value of EUR11.4bn as of 06/30/18 on a
proportionate consolidation basis) and as a property developer (2017 economic
revenues of EUR1,209m), Icade has been able to reinvent the real estate
business and foster the emergence of tomorrow's greener, smarter and more
responsible cities. Icade is a significant player in the Greater Paris area
and major French cities. Icade is listed on Euronext Paris as a French Listed
Real Estate Investment Company (SIIC). Its leading shareholder is the Caisse
des dépôts Group.
The text of this press release is available on the Icade website: www.icade.fr
CONTACTS
Anne-Sophie Lanaute,
Head of financial communication and investor relations
+33(0)1 41 57 70 29
anne-sophie.lanaute@icade.fr
Charlotte Pajaud-Blanchard,
Press relations manager
+33(0)1 41 57 71 19
charlotte.pajaud-blanchard@icade.fr