Following a major valuation exercise carried out by PAREF Investment Management teams, PAREF Group, through its JV with GA Smart Building, has finalized the sale of Gaïa office building in Nanterre.
"We are delighted to announce the completion of this major transaction, which demonstrates the expertise of PAREF Group and our ability to create long-term value for our shareholders and all our partners," said Antoine Castro, Chairman and CEO.
Located in the heart of the Bergères eco-neighborhood, close to La Défense and with immediate access to transportation, shops and services, "Gaïa" offers 11,100 square meters of rental space as well as numerous quality services: landscaped terraces, flexible meeting spaces, as well as an inter-company restaurant, co-working space and gaming zone. All of these services are geared towards the well-being of users and are attractive to tenants.
The asset also fits into its urban fabric and takes environmental aspects into account in its design and management, in line with the CSR approach defined by the PAREF Group. "Gaïa" has been awarded HQE and BBC Effinergie certifications, which are part of an urban regeneration process. As part of this approach, beehives have also been installed on its roof, in collaboration with the Apiterra association.
IX - Financial agenda
April 28, 2022: Financial information as of March 31, 2022
May 19, 2022: Annual General Meeting of shareholder
About PAREF Group
PAREF operates in two major complementary areas: (i) investments owned by SIIC PAREF primarily in commercial real estate in the Paris region (€0.2 bn asset as of December 31, 2021) and (ii) Management on behalf of third parties via PAREF Gestion (€1.8 bn funds under management as of December 31, 2021), an AMFcertified management company, and via PAREF Investment Management (€0.7 bn as of December 31, 2021).
PAREF is a company listed on Euronext Paris, Compartment C, under ISIN FR00110263202 - Ticker PAR.
More information on www.paref.com
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About GA Smart Building
GA Smart Building is a committed player in Real Estate and Construction industry. Environmental, social and societal issues are at the heart of its #weBuildforLife strategy: building for life and developing projects that have a positive impact.
The Group offers a comprehensive and integrated range of services, capable of imagining, designing and smart and sustainable buildings that will build the city of tomorrow. GA's historical uniqueness lies in off-site construction process that has been developed with the factory manufacture of the buildings' structural and façade components and their equipment. It makes GA Smart Building a French pioneer in the off-site industry that is emerging worldwide. All of these components are produced in the five plants of the Group in France. This perfectly mastered industrial process is now complemented by 3 wood construction plants of Ossabois, a wholly-owned subsidiary of the Group since 2018. The industrialization of construction also makes it possible to reduce the duration of construction sites, to minimize nuisances as much as possible, to make better use of waste that is entirely recycled in the factory, to offer optimum working and safety conditions and to improve the carbon impact of construction sites. It is also a guarantee of perfect quality of execution and compliance with commitments in terms of deadlines and prices. Since 2017, the Group's employees have been 60% shareholders in GA Smart Building. Their presence in the company's capital gives a special meaning to its action and allows it to control its destiny.
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