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Icade: completes sale of building in Boulogne-Billancourt

( - Following the signing of a bilateral preliminary agreement with a leading French institutional investor on 10 November, Icade announces that it has completed the sale of an office building located at 11/15 avenue Morizet in Boulogne-Billancourt, directly adjacent to Paris, for 45 million euros, excluding transfer duties.

Located in the town centre, this building has approximately 5,000m2 of office space and 131 car parking places. It has been fully leased to the holding company of a major global advertising and communications agency network since 2008.

The real estate company has announced that it has completed four sales in 2021 for a total of 507 million euros, achieved at an average premium of almost 11% above the appraised value at 31 December 2020.

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