Icade steps up the implementation of its strategic plan


Immobilier et logement

On 2 August, Icade announced that it had stepped up the implementation of its strategic plan through the sale of real estate assets - Eqho in Coubevoie and Crystal Park in Neuilly sur Seine - and the purchase of a portfolio of 12 healthcare facilities.

The Eqho Tower

Icade, owner of 100% of the Eqho Tower, signed on 2 August with an OPPCI* held by major South Korean investors, a commitment to sell 49% of this real estate asset for €365mn. Located on the edge of the circular boulevard of Paris-La Défense in the city of Courbevoie, Eqho includes 78,500 sqm of offices and services and 1,110 parking spaces. Icade has also granted the acquirer a call option on the remaining 51% expiring in December 2020.

The Crystal Park building

Icade has completed the sale of the Crystal Park building located in Neuilly-sur-Seine for €691mn to Samsung Securities. This 44,000 sqm property complex is 100% occupied by four major tenants, including PricewaterhouseCoopers (PwC).

The 12 health establishments

On 31 July 31, Icade Santé completed the purchase of 7 residential facilities for dependent elderly people (Frenc acronym : Ehpad), 4 follow-up care and rehabilitation clinics (SSR), and 1 psychiatric clinic, for a €191mn from an OPPCI managed by Swiss Life Asset Managers France. This portfolio consists of recent assets, mainly located in Normandy and Provence-Alpes Côte d'Azur, and housing majopr French operators


* Organisme de placement professionnel collectif immobilier : Professional collective real estate investment body