French real estate investment trust Gecina will pay Ivanhoe Cambridge €1.2bn for two Parisian office buildings.
Gecina plans to redevelop one of the buildings – the 361,700 sq ft former headquarters of PSA Group, located in the central business district. The second building, the T1&B building, is in the La Defense area of the French capital.
The completion date for the acquisition, which is expected to increase Gecina’s net income growth to 6% this year, is mid-August.
