Gecina finalises €181m hotel sale to Angelo Gordon and EQ Group

French REIT Gecina said this week that it has finalized the sale of its hotel portfolio to US group Angelo Gordon & Co and EQ Group for a net price of €181 mln.

The assets, comprising the premises and business of five hotels located in Paris, Boulogne, Bougival and Roissy, are from the Eurosic portfolio.

With the deal,Gecina is following through with its previously stated mission to focus on offices and residential in Paris while divesting non strategic assets.

Gecina manages €19.3 bn of AUM making it one of the largest property companies in France.

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