Icade awarded mandate to manage 150 Poste Immo properties

The property management arm of French Siic Icade said that it has won a mandate to manage a portfolio of over 150 commercial properties owned by Poste Immo, the real estate subsidiary of the French postal company La Poste Group.

The management contract involves the monitoring and technical management of the assets which are located in northern and southern France for an initial period of two years. 'With this new mandate, we continue to strengthen our collaboration with Poste Immo in the regions,' said Nathalie Palladitcheff, president of Icade Services.

Icade, the listed real estate arm of Caisse des Dépôts, focuses on development, investment and asset management of business parks, office, shopping centres and public spaces. In 2009, the company posted turnover of EUR 1.5 bn.

Earlier in November, Icade's property management unit received a mandate to manage the Cristal tower on the Seine riverfront in the 15th arrondissement of Paris. The diamond-shaped skyscraper is owned by Allianz Real Estate France and provides around 26,000 m² of office space across 27 floors in the Beaugrenelle district of the French capital. The property is currently in the final phase of restructuring and marketing to potential occupiers has started recently.