French property firm Icade said on Tuesday it has named Antoine Fayet as new head of its residential and public services property business in France. Marie Brouder, who was previously in charge of the public services assets, has resigned, Icade added.
French property firm Icade said on Tuesday it has named Antoine Fayet as new head of its residential and public services property business in France. Marie Brouder, who was previously in charge of the public services assets, has resigned, Icade added.
Last week Icade said that its chairman and chief executive Serge Grzybowski was considering the disposal of the entire housing portfolio to one or more investors at survey value. 'After this operation, Icade would distribute 50% of the capital gains from the disposal, as is provided by its SIIC status. The remainder would provide Icade with considerable leeway as opportunities arise in the commercial sector,' Grzybowski said during a meeting of directors. Grzybowski's proposal was unanimously backed by the board of directors, which believe the operation should be looked into 'as quickly as possible,' Icade said.
Icade, the listed property investment arm of Caisse des Depots, owns a housing portfolio consisting of 14,000 housing units worth EUR 2.5 bn in January 2008.
