April 26, 2024 07:16 GMT
Gecina GFCFP (A3/A- stable): 1Q24 Results
REAL ESTATE
A stable set of results overall with Gecina benefitting from a strategy of focussing on the premium end of Paris offices.
• Rental income came in at EUR 173.8m ahead of 171m consensus. Offices (81% of the portfolio) saw rents increase by 6.3% on a like-for-like basis.
• Occupancy rate stable at 94.3%.
• Loan-to-value 34%; Interest coverage 5.9x.
Keep reading...Show less
56 words