Gecina completes €37m Paris office sale

French listed property group Gecina has finalised the sale of a multi-let office building at 54/56 avenue du Général Leclerc in Boulogne-Billancourt, near Paris, for €36.6 mln excluding duties.

A Gecina spokesperson declined to reveal the name of the buyer. She did say however that negotiations started earlier this year before the onset of the crisis.

The fully occupied complex provides nearly 3,900 m2 of space. The sales amount represents a premium versus the asset’s latest appraisal value, the company said in a statement.
Méka Brunel, CEO, said: ‘Gecina is continuing to move forward with its portfolio rotation strategy in the current context.’
Gecina was advised by Savills under a joint-exclusive mandate with Cushman & Wakefield and by the notary’s office Cheuvreux.


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