French REIT Gecina has secured nearly €570 mln of office sales since its takeover last summer of peer Eurosic.
The sales, which are part of a €1.2 bn programme announced at the time of acquisition, were carried out at an average premium of 13% versus the latest appraisals of the assets.
Around €379 mln worth of sales have been closed, with the balance covered by preliminary agreements.
These sales concern non-strategic, secondary and/or mature assets, with 74% from the former Eurosic scope, Gecina said in a statement.
Gecina's CEO Méka Brunel said: 'Gecina is continuing to successfully deploy the roadmap presented when it acquired Eurosic, notably benefiting from the strong appetite among investors for office real estate in France to move forward, more quickly than forecast, with its asset rotation program under excellent conditions.'
