Gecina Signs a Reservation Agreement for a 113-apartment Project at the Heart of Bordeaux

Article Stock Quotes (1)

FREE Breaking News Alerts from StreetInsider.com!

StreetInsider.com Top Tickers, 4/23/2024

1. TSLA
2. GM
3. SPY
4. SHW
5. AMZN

6. SPOT
7. AAPL
8. NVDA
9. MINN

Get Alerts GFC Hot Sheet

Price: $5.28 --0%

Join SI Premium – FREE

PARIS--(BUSINESS WIRE)-- Regulatory News:

Gecina (Paris: GFC) is actively moving forward with the development of its residential subsidiary, and has signed an off-plan reservation agreement to acquire a project with 113 apartments in Bordeaux, developed by Cogedim, Nexity and Pitch Promotion as part of a consortium of developers.

Located in the new central district of Belvédère, this residence, which will include two buildings with a total living space of 8,012 sq.m, will offer high-quality apartments, with an average size of 71 sq.m. The residence will be part of a real estate complex including social housing units, five retail spaces and parking. The Belvédère district is part of the Bordeaux Euratlantique operation of national interest and the Garonne-Eiffel project. It is ideally located on the banks of the River Garonne.

Once the residence has been built, it will be acquired by Homya, Gecina’s residential subsidiary, for €38.1m excluding duties and including tax. It marks a new step forward with the development of Homya, whose growth will be built around several pillars: direct investments, asset renovation or densification operations within its portfolio, development of new apartments in the Paris Region and major regional cities through the strategic partnerships with Nexity and Woodeum.

This project is also aligned with the CAN0P-2030 plan, targeting NF Habitat HQE certification with an “Exceptional” rating. It will be let under the YouFirst Residence brand, with delivery scheduled for the fourth quarter of 2024.

About Gecina

As a specialist for centrality and uses, Gecina operates innovative and sustainable living spaces. The Group owns, manages and develops Europe’s leading office portfolio, with nearly 97% located in the Paris Region, and a portfolio of residential assets and student residences, with over 9,000 apartments. These portfolios are valued at 19.7 billion euros at end-2020.

Gecina has firmly established its focus on innovation and its human approach at the heart of its strategy to create value and deliver on its purpose: “Empowering shared human experiences at the heart of our sustainable spaces”. For our 100,000 clients, this ambition is supported by our client-centric brand YouFirst. It is also positioned at the heart of UtilesEnsemble, our program setting out our solidarity-based commitments to the environment, to people and to the quality of life in cities.

Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the SBF 120, CAC Next 20, CAC Large 60, CAC 40 ESG and Euronext 100 indices. Gecina is also recognized as one of the top-performing companies in its industry by leading sustainability benchmarks and rankings (GRESB, Sustainalytics, MSCI, ISS ESG and CDP).

www.gecina.fr