Icade: sells property assets in Paris area

(CercleFinance.com) - Following the sales promise signed in October, Icade has said that it had given way to a first institutional investor in the Paris Nord 2 business park (155,200 m2), Colombes (62,750 m2) and the Axe Seine building (24,200 m2), which is located in Nanterre.


Given the price of 434 million euros, this sale enhances Icade's NAV per share. Its proceeds will help the group to finance the development of its pipeline, while improving its LTV ratio.

These sales also mean that Icade finalises the sale of non-core assets, with the group maintaining a dynamic management of its office portfolio, in line with its 2019/2022 plan announced last July.



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