ICADE (EPA:ICAD) - ICADE: ACQUISITION OF THE “POINTE MÉTRO 1” COMPLEX IN GENNEVILLIERS FOR €123M (SUBJECT TO CONDITIONS PRECEDENT)

Transparency directive : regulatory news

24/07/2019 07:15

PRESS RELEASE
Issy-les-Moulineaux, July 24, 2019, 7:15 a.m.

   ICADE: ACQUISITION OF THE "POINTE MÉTRO 1" COMPLEX IN GENNEVILLIERS FOR
                 EUR123M (SUBJECT TO CONDITIONS PRECEDENT)

On July 23, 2019, Icade signed an agreement to acquire Pointe Métro 1 in
Gennevilliers (Hauts-de-Seine) by way of a share deal for an asset value of
EUR123m.

Located 300 metres from the Gabriel Péri metro station in the Coeur de Seine
development zone, Pointe Métro 1  is set in a dynamic environment undergoing
major transformations. The Pointe Métro 1 complex, designed by Jean-Paul
Viguier and HQE Construction-certified, consists of three buildings having
23,518 sq.m of leasable floor space and 429 parking spaces.

Sold by Foncière NW2, a SPPICAV managed by Normandie REIM, this building has
been fully leased since its completion in 2010 to a first-class tenant. The
remaining lease term is 5 years.

For Icade, this acquisition is consistent with the growth of its portfolio of
office assets likely to increase in value.

The acquisition is expected to be completed in September 2019 once the
customary conditions precedent have been fulfilled.

                                  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 EUR11.7bn as of 06/30/19 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: ACQUISITION OF THE “POINTE MÉTRO 1” COMPLEX IN GENNEVILLIERS FOR €123M (SUBJECT TO CONDITIONS PRECEDENT)

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