Gecina has secured nearly €570m of office sales, with an average premium of +13% versus the latest appraisals

Regulatory News:

In line with the objective announced by Gecina (Paris:GFC) when it acquired Eurosic to roll out a sales program for a minimum of €1.2bn, the Group has already completed or secured €571m (Group share) of sales of real estate assets or financial investments, with €379m finalized to date and the balance covered by preliminary agreements. Almost half of the minimum sales program has therefore already been secured, achieving an average premium of around +13% versus the latest appraisals.

These sales concern non-strategic, secondary and/or mature assets, with 74% from the former Eurosic scope. They also include the divestment of interests initially held by Eurosic in certain Parisian buildings.

Méka Brunel, Chief Executive Officer: "Gecina is continuing to successfully deploy the roadmap presented when it acquired Eurosic, notably benefiting from the strong appetite among investors for office real estate in France to move forward, more quickly than forecast, with its asset rotation program under excellent conditions.”

Gecina, living the city in a different way

Gecina owns, manages and develops property holdings worth 19.5 billion euros at end-August 2017, with nearly 92% located in the Paris Region. The Group is building its business around France’s leading office portfolio and a diversification division with residential assets and student residences. 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 SBF 120, Euronext 100, FTSE4Good, DJSI Europe and World, Stoxx Global ESG Leaders and Vigeo indices. In line with its community commitments, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.

www.gecina.fr

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