ICADE PRESS RELEASE |
14 March 2016 |
Icade announced today that a lease agreement was concluded with a major company, for a fixed period of 12 years, for the entire 24,000 sq.m of offices of the Millénaire 4 building.
This transaction marks the successful completion of the marketing of the properties developed in the Millénaire neighbourhood in the 19th district of Paris, where public agencies such as the Regional Health Authority, the Ministry of Justice, or major
companies such as Veolia, have successively relocated. This agreement confirms the attractiveness of the Millénaire park and the relevance of the value creation strategy pursued by Icade over several years.
Millénaire 4, whose construction started in the autumn of 2014, is an exemplary building in terms of sustainable development and it was awarded the HQE certification with an "Excellent" rating, the BREEAM certification with a "very good" rating, as well as the BBC label.
The lease will commence on the completion date of the building, in October 2016. It will have a +0.5% positive impact on the financial occupancy rate of the business park portfolio1.
Olivier Wigniolle declared: "after this new agreement, Icade will be able to focus on future development projects in the North East of Paris, especially an upcoming 30,000- sq.m office project next to the Front Populaire metro station in Saint Denis."
1 Pro forma data based on the portfolio as of 31 December 2015
ABOUT ICADE | ||
Icade is a French listed real estate investment company (SIIC), a subsidiary of the Caisse des Dépôts and a major player in Greater Paris and territorial development. As a key integrated property player, Icade is capable of providing comprehensive, sustainable and innovative solutions that are tailored to customer needs and to the challenges of tomorrow's cities. Icade is the European leader in office real estate investment and it recorded EPRA Earnings of €273 million in 2015. As of 31 December 2015, its EPRA triple net asset value (NNNAV) stood at €5,383 million, i.e. €73.1 per share. The text of this press release is available on the Icade website: www.icade.fr | ||
CONTACTS | Guillaume Tessler, Head of financial communication and investor relations Tel: +33 (0)1 41 57 71 61 guillaume.tessler@icade.fr | Charlotte Pajaud-Blanchard, Press relations manager Tel: +33 (0)1 41 57 71 19 charlotte.pajaud-blanchard@icade.fr |
Icade SA issued this content on 14 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 March 2016 19:47:04 UTC
Original Document: http://www.icade.fr/en/content/download/13863/153984/version/2/file/CP_Icade_millenaire4+vUK.pdf
