Gecina Signs a New Lease for 2,700 sq.m, Taking l1ve’s Pre-Letting Rate up to 87%

PARIS–()–Regulatory News:

Gecina (Paris:GFC) has signed an off-plan lease with a major international recruitment firm for 2,700 sq.m of the Pergolèse building, which is an integral part of the l1ve real estate complex at 75 avenue de la Grande Armée in Paris’ 16th arrondissement.

This new lease, for a firm nine-year period, covers part of the building at 6/8 rue de Pergolèse. The space will be made available to the tenant when the building is delivered mid-2022.

L1ve’s redevelopment is being led by the architects Baumschlager Eberle Architekten in line with an ambitious and groundbreaking circular economy approach at the heart of Paris. More than 81 tons of materials have been reused, making it possible to avoid 394 tons of CO2 emissions.

On the major Concorde, Place de l’Étoile, Grande Armée and La Défense corridor, this 33,500 sq.m complex stands out through its architecture and the quality of its spaces: retaining the monumental structure of its vast ground-floor gallery and its facade with its standout motif, this is a unique building in Paris.

In 2022, l1ve will also welcome Boston Consulting Group’s French headquarters.

This latest transaction confirms the appetite among businesses for high-quality buildings located at the heart of Paris. Gecina is continuing to improve the pre-letting of its development pipeline, with 58% of the operations scheduled for delivery in 2021 and 2022 now let.

Romain Veber, Executive Director Investment & Development: “We are delighted to sign this latest lease. It recognizes our value proposition with YouFirst, our client-centric brand, which is embodied by l1ve. Its innovative redevelopment in line with a circular economy approach combined with the quality of its spaces and its extensive services help make this real estate complex a living space and modern work tool with a strong focus on wellbeing, collaboration and performance”.

About Gecina

As a specialist for centrality and uses, Gecina operates innovative and sustainable living spaces. The Group owns, manages and develops Europe’s leading office portfolio, with nearly 97% located in the Paris Region, and a portfolio of residential assets and student residences, with over 9,000 apartments. These portfolios are valued at 20.0 billion euros at end-June 2021.

Gecina has firmly established its focus on innovation and its human approach at the heart of its strategy to create value and deliver on its purpose: “Empowering shared human experiences at the heart of our sustainable spaces”. For our 100,000 clients, this ambition is supported by our client-centric brand YouFirst. It is also positioned at the heart of UtilesEnsemble, our program setting out our solidarity-based commitments to the environment, to people and to the quality of life in cities.

Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the SBF 120, CAC Next 20, CAC Large 60, CAC 40 ESG and Euronext 100 indices. Gecina is also recognized as one of the top-performing companies in its industry by leading sustainability benchmarks and rankings (GRESB, Sustainalytics, MSCI, ISS ESG and CDP).

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