ARGAN sold to Invesco Real Estate its datacentre located in Wissous and thus successfully finalized its assets sales program for 2024

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KeyCrew

Date:

08 Oct 2024

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Press release – Neuilly-sur-Seine, October 8, 2024 – 8.00 am

ARGAN sold to Invesco Real Estate its datacentre
located in Wissous and thus successfully finalized
its assets sales program for 2024

ARGAN, the only listed French real estate company specializing in the development and rental of PREMIUM warehouses and leading player on its market, announced today the sale of its datacentre in Wissous (91) to Invesco Real Estate for a surface of more than 22,000 sq.m.

This PRIME asset is entirely rented to Cyrusone. The transaction was settled at a price of €59 million excluding duties, in line with the appraised value as at June 30, 2024.

Following the sale of an 18,000 sq.m warehouse near Caen¹, this second operation thus finalized ARGAN’s 2024 asset sales program in a total amount of €77 million, in line with the announced target for the year.

Additionally, these two assets sales reflect a combined yield at the level of the French PRIME rate, testifying to the quality and appeal of the warehouses part of ARGAN’s portfolio, located in very demanded areas.

The cash generated by 2024 assets sales is part of the Group’s broader aim to
self-finance its development and to pursue its debt reduction.

Argan was assisted by CBRE and the Jubault Notarial Office for the transactional aspects.

2025 financial calendar (Publication of the press release after closing of the stock exchange)

• January 3: Net sales of 4^th quarter 2024
• January 16: Annual results 2024

• March 20: General Assembly 2025

About ARGAN

ARGAN is the only French real estate company specializing in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on EURONEXT and is the leading player of its market. Building on a unique client-tenant-centric approach, ARGAN builds pre-let PREMIUM warehouses for blue-chip clients and supports them throughout all project phases from the development milestones to the rental management.
Profitability, tight control over our debt and sustainability are at the heart of ARGAN’s DNA. Its strongly proactive ESG policy has very concrete results with our Aut0nom® concept, the “in-use” Net Zero warehouse.
As at June 30, 2024, our portfolio represented 3.6 million sq.m, across about a hundred warehouses, exclusively located in the continental part of France, and this portfolio was valued €3.8 billion for a yearly rental income of about €200 million.        
ARGAN is a listed real estate investment company (French SIIC), on Compartment A of Euronext Paris (ISIN FR0010481960 – ARG) and is included in the Euronext SBF 120, CAC All-Share, EPRA Europe and IEIF SIIC France indices.
www.argan.fr

1 For more information, please refer to the press release of July 1, 2024.

Attachment

• 20241008 – Argan finalized its 2024 assets sales program