Gecina Finalizes the Acquisition of a Building in Paris’ Central Business District

  Gecina Finalizes the Acquisition of a Building in Paris’ Central Business

Asset rotation continuing in the office sector: 192 million euros of sales in

Business Wire

PARIS -- July 3, 2013

Regulatory News :

Gecina (Paris:GFC) has finalized the acquisition of an 11,636 sq.m office
building on RueMarbeuf, in Paris’ Central Business District, for a total of
122 million euros including duties. This asset is fully let to WPPGroup and
Orientis, giving an immediate net yield of 5.5%.

The building benefits from an optimum location at the crossroads on Avenue des
Champs Elysées. Over the medium term, this asset will be able to undergo major
redevelopment work, enabling Gecina to achieve very strong value creation
through a significant increase in rental income and a reduction in the
capitalization rate.

In addition, Gecina will be moving forward with its investment policy in the
office sector, starting work in July 2013 to redevelop almost 11,000 sq.m of
an asset located at 122avenue du Général Leclerc in Boulogne. The total
amount of this operation will represent 68million euros, with a target net
yield of 7.5%.

Alongside this, Gecina has continued to roll out its asset rotation strategy
for its commercial portfolio during the first half of 2013, selling five
office and retail assets for a combined total of 192 million euros (excluding
duties), with an overall premium of 4.7% on the end-2012 appraisals.

Tour Mercure (8,017 sq.m in Paris’ 15^tharrondissement) has been acquired by
a subsidiary of the Aviva group. For Gecina, Tour Mercure represented a mature
asset, following its complete redevelopment, delivered in 2011, then its
letting to a national public sector agency. The building at 34 rue de la
Fédération (6,579 sq.m of offices in Paris’ 15^tharrondissement), which was
100% occupied, but had been identified as non-strategic for Gecina, has been
sold to LFPI (La Financière Patrimoniale d’Investissement). In addition,
Gecina has sold the Dauphiné Part-Dieu building (13,087sq.m of offices in
Lyon) to an insurance company in connection with the drive to refresh its
Lyon-based portfoliaro. The building at 10 rue du Quatre Septembre (3,000 sq.m
in Paris’ 2^ndarrondissement) has been sold empty to a buyer which will be
using the premises itself once they have been vacated by the previous tenant.

Lastly, a retail chain has acquired a 476 sq.m retail unit at 100 avenue Paul
Doumer (Paris 16^tharrondissement), a small-scale asset that was not
strategic for the Group.

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.


Financial communications
Elizabeth Blaise, Tel: + 33 (0)1 40 40 52 22
Virginie Sterling, Tel: + 33 (0)1 40 40 62 48
Press relations
Armelle Miclo, Tel: +33 (0) 1 40 40 51 98
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