Paris-listed firm Icade has signed a preliminary agreement to sell three French commercial assets, including two business parks and an office building, for a total of €425 mln to an institutional investor.
The deal comprises the Paris Nord 2 (155,200 m2) and Colombes business parks (62,750 m2) as well as the Axe Seine building (24,200 m2) located in Nanterre.
The sale is in line with Icade's 2019-2022 business plan, which was presented in July. The proceeds from the disposal will be used to fund the firm's development pipeline.
The deal is expected to close by year end.
