Argan successfully finalizes its arbitration plan for 2024

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Photo credit © Argan

(Boursier.com) — Argan announces the sale of its data center in Wissous (91) to Invesco Real Estate for an area of ​​more than 22,000 square meters. This PRIME asset is fully leased to Cyrusone. The sale was established at a price of €59 million excluding duties, in line with the appraisal value as of June 30, 2024.

After the sale of an 18,000 square meter warehouse near Caen, this second transaction concludes Argan’s arbitration program for 2024 with a total envelope of 77 ME, in line with the objective announced for the year. These two disposals also reflect a combined yield in line with the French PRIME rate, testifying to the quality and attractiveness of the assets in Argan’s portfolio, located in highly sought-after locations.

The cash generated by the 2024 arbitrations is more generally in line with the Group’s objective of self-financing its development and continuing its debt reduction.


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