PARIS (Agefi-Dow Jones) – Icade announced on Wednesday that it had finalized its disposal plan scheduled for 2021 with the sale of an office building located in Boulogne-Billancourt. The group has also signed a first promise to sell as part of its divestment program for 2022.
The sale of the office building located in Boulogne-Billancourt was carried out for 45 million euros excluding transfer taxes. In total, “with four disposals finalized in 2021 for a total amount of 507 million euros, carried out with an average premium of nearly 11% above the appraisal values at December 31, 2020, Icade has executed its 2021 disposals under very good conditions, “said the property company in a press release.
Icade plans to reinvest the proceeds from these asset disposals in its tertiary development pipeline and in the growth of its subsidiary Icade Santé. This sum “will also contribute to the good control of the debt ratio ‘loan to value’ (LTV)”, specified the group.
As part of its 2022 disposal plan, Icade signed on December 21, 2021 a promise to sell the Le Millénaire 4 building, located in Paris in the 19th arrondissement within the Parc du Millénaire, for a value of 186 million d ‘euros. The sale is scheduled for March 2022, after the usual conditions precedent have been lifted.
“The proceeds from the sale of Millénaire 4 will allow Icade to launch new operations in this rapidly changing sector by mobilizing some of its land charges”, the company said.
-François Berthon, Agefi-Dow Jones; 01 41 27 47 93; [email protected] ed: ECH
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December 29, 2021 14:16 ET (19:16 GMT)