Gecina Acquires the 28,500 Sq.M City 2 Building in Boulogne-Billancourt from BNP Paribas Real Estate for 188 Million Euros

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Regulatory News :

On February 16, 2015, Gecina (Paris:GFC) acquired the City 2 building in Boulogne-Billancourt from BNP Paribas Real Estate for 188 million euros (including commissions and fees).

This building is currently being redeveloped and will be delivered at the end of 2015. It will offer nearly 28,500 sq.m and be let in full to Solocal Group on a firm 10-year lease from April 2016.

The CityLights real estate complex, which the building is part of, is ideally located next to the Pont de Sèvres metro station on Line 9, as well as the future Line 15, which is scheduled to be delivered in 2020 as part of the Grand Paris project. City 2 will therefore have direct connections to central Paris, as well as eventually the La Défense business district.
The whole CityLights hub, which will offer more than 80,000 sq.m of offices and services, will represent an outstanding service sector gateway for the city of Boulogne and western Paris.

This asset, with its redevelopment overseen by Dominique Perrault Architecture, is aiming for HQE® Exceptional and BREEAM® Excellent certification, as well as BBC energy efficiency.

On this operation, Gecina was advised by the notary's office Wargny Katz and Aliuta. The seller was advised by Etude Thibierge and BNP Paribas Real Estate Transaction.

As Philippe Depoux, Gecina’s Chief Executive Officer, confirms: "This is one of the largest investments made by Gecina in the last few years and confirms our ambition to further strengthen our leading position in the Paris Region office market. We are proud to continue building our portfolio with this high architectural and environmental quality asset from an outstanding developer, benefiting from an excellent location at the heart of the Grand Paris project and let to a major economic player”.

"CityLights, developed by BNP Paribas Real Estate’s Property Development teams, is the largest private project in the Paris Region, with over 80,000 sq.m developed, already pre-let to Solocal and General Electrics. We are particularly pleased to finalize the sale of City 2 to Gecina today, following the sale of City 1 and 3 to BNP Paribas Cardif in April 2014”, explains Thierry Laroue-Pont, Chief Executive Officer of BNP Paribas Real Estate.

Gecina, a leading real estate group

Gecina owns, manages and develops property holdings worth 10.2 billion euros at June 30, 2014, with 90% located in the Paris Region. This real estate company's business is built around France's largest office portfolio, as well as residential assets, student residences and healthcare facilities. Gecina has put sustainable innovation at the heart of its strategy to create value, anticipate its customers' expectations and invest while respecting the environment, thanks to the dedication and expertise of its staff.

Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the FTSE4Good, DJSI Europe and World, Stoxx Global ESG Leaders, Euronext 100 and Vigeo indices. In line with its commitments to the community, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.

www.gecina.fr