ICADE (EPA:ICAD) - ICADE SELLS THE PARIS NORD 2 AND COLOMBES BUSINESS PARKS AND THE AXE SEINE BUILDING

Transparency directive : regulatory news

03/12/2018 18:00

PRESS RELEASE
Issy-les-Moulineaux, December 3, 2018

ICADE SELLS THE PARIS NORD 2 AND COLOMBES BUSINESS PARKS AND THE AXE SEINE
BUILDING

Following the preliminary agreement signed in October 2018, Icade has today
completed the sale of the Paris Nord 2 (155,200 sq.m) and Colombes business
parks (62,750 sq.m) and the Axe Seine building (24,200 sq.m) located in
Nanterre to a leading institutional investor.

This sale represents a total of EUR434 million excluding duties (above the
EUR425 million excluding duties initially announced, due to the payment of a
contingent consideration relating to three new leases signed in the Axe Seine).

Given the selling price, this transaction will have a positive impact on
Icade's NAV per share.

This disposal marks the end of the sale of non-strategic assets and will
further support the proactive management of Icade's office portfolio, in line
with the 2019-2022 Plan announced last July.

The proceeds from this disposal will help fund the development pipeline of the
Office Property Investment Division and improve the LTV ratio.

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,
Member of the Executive Committee in charge of
Finance, Legal, IT, and Work Environment
victoire.aubry@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 SELLS THE PARIS NORD 2 AND COLOMBES BUSINESS PARKS AND THE AXE SEINE BUILDING

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