Catella Property advised Icade on the sale of Millénaire 4 - Paris 19

Following the synallagmatic promise of sale signed with Générale Continentale Investissement (GCI) and BlackRock Real Assets on 21 December 2021, Icade finalised the sale of the Le Millénaire 4 building in the Parc du Millénaire in Paris on 1 April 2022 for €186 million.

This building of nearly 24,600 sqm, fully leased to BNP Paribas for a residual term of seven years, was built and delivered in October 2016 and has several environmental certifications (HQE, BBC and BREEAM Excellent).

Following the sale of the Le Millénaire 1 building (29,000 sqm) in April 2021, and in line with the sales of Le Millénaire 2 and 3 in recent years, Icade has completed the redevelopment of Parc du Millénaire. The disposals of the Parc du Millénaire amount to nearly €740 million and have generated capital gains of over €260 million, representing a return on equity of c. 10%.

Source: Business Immo