ICADE (EPA:ICAD) - ICADE: PRELIMINARY AGREEMENT TO SELL THE CRYSTAL PARK BUILDING FOR €691 MILLION

Transparency directive : regulatory news

06/06/2019 07:15

PRESS RELEASE
Issy-les-Moulineaux, June 6, 2019, 7:15 a.m.

ICADE: PRELIMINARY AGREEMENT TO SELL THE CRYSTAL PARK BUILDING FOR EUR691
MILLION

On June 5, 2019, Icade entered into a bilateral sale agreement with a leading
South Korean investor advised by La Française, acting as asset manager and
co-investor, for the Crystal Park building located in Neuilly-sur-Seine (in the
Western Crescent of Paris).

This 44,000-sq.m building complex stands out for its services and private,
protected woodland areas covering 20,000 sq.m. Recently renovated, Crystal Park
is fully leased to four first-class tenants.

This sale totals EUR691(1) million excluding duties and the final deed of sale
is expected to be signed by the end of July, once customary conditions
precedent have been satisfied.

Following nearly EUR600 million in property sales in 2018, this transaction
will be carried out as part of implementing Icade's 2019-2022 plan, with
stepping up sales of core assets in a buoyant real estate market as one of the
main priorities in 2019. The proceeds from these sales will be reinvested in
the Office Property Investment Division's development projects and Icade
Santé's further expansion both in France and abroad.

(1): before the effect of commercial benefits and miscellaneous work remaining
at the expense of Icade

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 working closely 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 EUR11.3bn as of 12/31/18 on a
proportionate consolidation basis) and as a property developer (2018 economic
revenues of EUR1,251m), 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

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ICADE (EPA:ICAD) - ICADE: PRELIMINARY AGREEMENT TO SELL THE CRYSTAL PARK BUILDING FOR €691 MILLION

Transparency directive : regulatory news

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