Gecina is making its first residential acquisition through the dedicated subsidiary that it has created, in line with the Group’s ambition to support housing around a long-term view. This building located at 66 rue de Ponthieu in Paris’ 8th arrondissement comprises nearly 4,100m² and features 52 apartments and various ground-floor retail units. The purchase price is €33.1m excluding duties.
Meka Brunel, Chief Executive Officer: “This operation clearly illustrates Gecina’s resolute return to the rental residential market with a view to contributing, over the long term, to the residential experience provided for people. We will be deploying the Group’s resources to support this in terms of CSR, innovative operating technologies and customer relations thanks to YouFirst Residence. With the creation of a dedicated subsidiary to house our residential business, we will continue to build on and further strengthen this progress. We will, therefore, continue to look closely at potential opportunities for growth and value creation that we identify in this sector”.