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RGAN, a leading French real estate company specializing in premium warehouses, has successfully completed its asset sales program for 2024 by selling its datacentre in Wissous to Invesco Real Estate. The 22,000 sq.m facility is entirely rented to Cyrusone and was sold at €59 million excluding duties, in line with the appraised value as of June 30, 2024.
This transaction follows the sale of an 18,000 sq.m warehouse near Caen, which generated a total of €77 million in asset sales for the year. Both transactions reflect yields at the level of the French prime rate, demonstrating the quality and appeal of ARGAN's portfolio, located in highly demanded areas.
The cash generated from these sales will be used to self-finance ARGAN's development and pursue its debt reduction strategy. The company was assisted by CBRE and the Jubault Notarial Office for the transaction.
ARGAN's 2025 financial calendar includes:
* January 3: Net sales of 4th quarter 2024
* January 16: Annual results 2024
* March 20: General Assembly 2025
As a listed real estate investment company, ARGAN is committed to profitability, debt control, and sustainability. Its proactive ESG policy has led to the development of its Aut0nom concept, which aims to create "in-use" Net Zero warehouses. With a portfolio valued at €3.8 billion as of June 30, 2024, ARGAN remains a leading player in the French premium warehouse market.
