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Colonial Earns More Than €600 Million During the Pandemic From the Sale of Offices and Warehouses

On Wednesday, the Socimi signed the sale of the property 9 Percier in Paris to the fund Deka for 143.5 million euros, along with a warehouse in the Les Gavarres shopping centre. The firm also confirmed that it will continue to carry out non-strategic divestments.

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A building owned by SFl, one of Colonial’s subsidiaries, in Paris.

Colonial generated revenues of more than 615 million euros in a difficult year for real estate companies specialising in office assets. The Socimi, which owns assets in Barcelona, Madrid and Paris (through SFL), obtained proceeds of 617 million euros in 2020 thanks to the divestments included in its Alpha IV and V divestment plans.

In total, the Socimi sold 17 secondary assets in 2020 and early 2021 for more than 617 million euros, which represents a premium of 11% compared to the valuation of those assets carried out before the pandemic.

Read the full article in Spanish.

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