French REIT Gecina has sold a mixed portfolio of 16 non-core assets to two funds managed by Keys REIM, the Keys Asset Management Group’s portfolio management company for a total of €54.6 mln excluding duties.
The 26,000-m2 portfolio is made up of office assets, as well as retail units and parking spaces located in Paris, the Paris Region and other regions across France. Gecina said that the properties are non strategic due to their location or size.
‘With this sale, Gecina is moving forward with its strategy to rationalize its portfolio and further strengthening, in the Paris Region, the centrality of its office assets in sectors with a focus on mixed-uses and proximity,’ the company said in a statement.
Gecina was advised by consulting firms JLL and Catella.
