ICADE (EPA:ICAD) - ICADE IS AWARDED THE CONSTRUCTION OF AN OFFICE DEVELOPMENT IN THE ARCHIPEL-WACKEN INTERNATIONAL BUSINESS DISTRICT IN STRASBOURG AND SIGNS A PRELIMINARY AGREEMENT TO SELL THE OPEN BUILDING IN ISSY-LES-MOULINEAUX

Transparency directive : regulatory news

29/10/2018 07:30

PRESS RELEASE
Issy-les-Moulineaux, October 29, 2018

       ICADE IS AWARDED THE CONSTRUCTION OF AN OFFICE DEVELOPMENT IN THE
   ARCHIPEL-WACKEN INTERNATIONAL BUSINESS DISTRICT IN STRASBOURG AND SIGNS A
     PRELIMINARY AGREEMENT TO SELL THE OPEN BUILDING IN ISSY-LES-MOULINEAUX

Icade's application selected in the call for expressions of interest for the
construction of a European office development of about 40,000 sq.m in lot E of
the Archipel-Wacken international business district in Strasbourg

On October 25, 2018, Icade won a selection process launched by the City of
Strasbourg, and led collaboratively with the Strasbourg Eurometropolis, the
Bas-Rhin Departmental Council and the Grand-Est Region, for the construction of
a European office development of about 40,000 sq.m in the Archipel-Wacken
international business district in Strasbourg.

The Osmose project presented by Icade provides for the development of a major
European business district in the immediate vicinity of the European
Parliament, with the objective of making it the most important office district
in Strasbourg. The scheme is scheduled for completion at the end of 2020.

For this project, Icade will be working in collaboration with Caisse des
dépôts, architect firms Art & Build (Paris, Brussels, Luxembourg) and Oslo
Architectes (Strasbourg), as well as the general contractor Demathieu et Bard.

Signing of a preliminary agreement to sell the Open building in
Issy-les-Moulineaux for EUR98.8 million excluding duties

Icade has entered into a bilateral sale agreement with a leading French
institutional investor for Open, its 9,200-sq.m headquarters building in
Issy-les-Moulineaux.

This transaction amounts to EUR98.8 million excluding duties.

It is expected to be completed by the end of the year, once customary
conditions precedent have been satisfied. Icade will remain the tenant of the
building under a lease that will be signed simultaneously with the sale.

The Open building was refurbished in 2016 following the departure of its
previous occupier. The Open building, which houses Icade's headquarters, offers
a flex office environment.

This sale will further support the proactive management of Icade's office
portfolio, in line with the objectives announced at the time the 2019-2022 Plan
was presented last July. In particular, the proceeds from this disposal will be
used to fund the development pipeline.

ABOUT ICADE BUILDING FOR EVERY FUTURE

As an investor and a developer, Icade is an integrated real estate player which
designs innovative real estate products and services adapted to new urban
lifestyles and habits. By placing corporate social responsibility and
innovation at the core of its strategy, Icade is closely involved with
stakeholders and users in the cities-local authorities and communities,
companies and employees, institutions and associations... As an office and
healthcare property investor (portfolio value of EUR11.4bn as of 06/30/18 on a
proportionate consolidation basis) and as a property developer (2017 economic
revenues of EUR1,209m), Icade has been able to reinvent the real estate
business and foster the emergence of tomorrow's greener, smarter and more
responsible cities. Icade is a significant player in the Greater Paris area and
major French cities. Icade is listed on Euronext Paris as a French Listed Real
Estate Investment Company (SIIC). Its leading shareholder is the Caisse des
dépôts Group.

The text of this press release is available on the Icade website:
www.icade.fr

CONTACTS

Victoire Aubry, CFO
victoire.aubry@icade.fr

Hamza Gharbaoui, Investor relations
+33(0)1 41 57 71 77
hamza.gharbaoui@icade.fr

Charlotte Pajaud-Blanchard, Press relations manager
+33(0)1 41 57 71 19
charlotte.pajaud-blanchard@icade.fr

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ICADE (EPA:ICAD) - ICADE IS AWARDED THE CONSTRUCTION OF AN OFFICE DEVELOPMENT IN THE ARCHIPEL-WACKEN INTERNATIONAL BUSINESS DISTRICT IN STRASBOURG AND SIGNS A PRELIMINARY AGREEMENT TO SELL THE OPEN BUILDING IN ISSY-LES-MOULINEAUX

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