(Boursier.com) – Icade announces sustained asset rotation for its tertiary property company, with finalization of the 2021 disposal plan and 2022 disposal plans marked by the signing of a promise for 186 ME. Following the synallagmatic promise to sell signed with a leading French institutional investor on November 10, Icade finalized the sale of an office building located at 11/15 avenue Morizet in Boulogne-Billancourt (92) for an amount of 45 ME excluding rights. With 4 disposals finalized in 2021 for a total amount of 507 ME, carried out with an average premium of almost 11% above the appraised values at December 31, 2020, Icade executed its 2021 disposal plan under very good conditions , reflecting the strong liquidity of the market for core tertiary assets. The proceeds from the disposal of core assets in Icade’s portfolio will be reinvested in the tertiary development and growth pipeline of Icade Santé; it will also help keep Icade’s LTV ratio under control.
On December 21, 2021, Icade signed a synallagmatic promise to sell the Le Millénaire 4 building, located in Paris in the 19th arrondissement within the Parc du Millénaire, with leading institutional investors for a value of 186 ME. Icade will remain, in 2022, “proactive and opportunistic with regard to its program of disposals of core tertiary assets, rotation of capital and of the portfolio of assets being one of the elements of its value creation strategy”.
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