Regulatory News:
Aéroports de Paris (Paris:ADP) (Pink Sheets:AEOPF) and GE Capital
Real Estate France (through its subsidiary Foncière Ariane SAS) reached,
on 30 November 2009, the final agreement of their partnership regarding
Continental Square real estate complex located at Paris-Charles de
Gaulle airport.
This partnership is about:
The transfer of Continental Square real estate complex by GE Capital
Real Estate France to Roissy Continental Square SAS held at 60percent
by Aéroports de Paris and at 40 percent by Foncière Ariane SAS,
the operational management of Continental Square real estate complex
which will be carried out successively by GE Capital Real Estate then
by Aéroports de Paris,
a feasibility assessment for the possible development of another
office complex depending on market trends.
Continental Square real estate complex is located at Paris-Charles de
Gaulle airport. With a surface area of 50,000m², the office complex
consists of eight homogeneous office buildings occupied by thirty major
tenants. The annual rent stands at around 11million euros with an
occupancy rate at 92 percent.
François Trash, President of GE Capital Real Estate France highlights: «The
conclusion of this agreement with Aéroports de Paris shows our will to
allow our business model to move towards partnerships and towards assets
management on behalf of third parties. We will be concentrating our
efforts on this business line in the coming months. »
François Cangardel, Real Estate Director of Aéroports de Paris, states: «We
are delighted of this partnership with GE Capital Real Estate. It is in
line with Aéroports de Paris policy to develop its real estate activity
which represents a strategic focus and a complementary source of growth
for the Group.»
Aéroports de Paris was advised by Etude Thibierge, Darrois Villey and
Jones Lang Lasalle law firms. GE Capital Real Estate France was advised
by Etude Lasaygues and Ashurst law firm (also partners advisor for
financing). Calyon and Crédit Foncier, in charge of financing, were
advised by Etude Wargny-Katz Gide Loyrette Nouel law firm. Assets
appraisal was carried out by Catella Valuation Advisors.
About Aéroports de Paris
Aéroports de Paris builds, develops and manages airports including
Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. Aéroports de
Paris is Europes second-largest airport group in terms of airport
revenue and the European leader for freight and mail. Aéroports de Paris
accommodates nearly 460 airlines, including the main companies in the
air transport industry. With an exceptional geographic location and a
major catchment area, the Group is pursuing its strategy of adapting and
modernizing its terminal facilities and upgrading quality of services,
and also intends to develop its retail and real estate business. In
2008, Aéroports de Paris had revenues of 2,527 million, and the Group
handled 87.1 million passengers.
About GE Capital Real Estate
GE Capital Real Estate (www.gecapitalrealestate.com
>http://www.gecapitalrealestate.com/
) is one of the worlds premier commercial real estate companies with
US$84 billion in assets and a presence in 31 markets throughout North
America, Europe, Asia and Australia/New Zealand. GE Capital Real Estate
has a depth of knowledge and experience and a history of building
relationships, finding opportunities and opening doors for more than
5,000 owners, builders, borrowers and brokers worldwide.
Source: Business Wire