Gecina lets over 2,000 sq.m in the Mirabeau Tower

Regulatory News:

Gecina (Paris:GFC) has let almost 2,050 sq.m in the Mirabeau Tower to a public-sector organization for a period of over six years from September 1, 2013.

Gecina acquired the Mirabeau tower in March 2013 based on a net yield of 7.2%, factoring in a 10% financial vacancy rate. Following the latest lease signed, the Mirabeau Tower is now 95.1% let, increasing the acquisition’s net yield rate to 7.6%.

This transaction highlights the quality location of the Mirabeau Tower, which also benefits from efficient and rational office platforms. This building’s acquisition offers Gecina an immediate high yield, combined with very significant value creation potential over the medium term as this building will be able to undergo major redevelopment work.

On this transaction, Gecina was advised by BNP Paribas Real Estate for real estate aspects and Maître Constance de la Hosseraye (Bird & Bird) for legal aspects.

Gecina, a leading real estate group

Gecina owns, manages and develops property holdings worth 11 billion euros at December 31, 2012, with 88% located in the Paris Region. This real estate company's business is built around an Economic division, including France's largest office portfolio, and a Demographic division, with 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 and ASPI Eurozone® 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