ARGAN Completes Successful Sale of Data Center to Invesco Real Estate
ARGAN's Successful Data Centre Sale
ARGAN, a prominent French real estate company, has executed a significant transaction by selling its datacentre to Invesco Real Estate. This sale marks the culmination of its assets sales program for the year, showcasing the company’s strategic approach in the market.
Details of the Transaction
The datacentre, spanning over 22,000 sq.m., was sold for €59 million, which aligns with its appraised value from mid-2024. The facility is fully rented to Cyrusone, indicating the quality of the asset and its ongoing profitability.
Achievements in 2024 Asset Sales Program
This transaction follows a previous sale of an 18,000 sq.m. warehouse, effectively completing ARGAN's asset sales program with a total of €77 million for the year. This performance meets the company's previously stated financial targets and objectives.
Quality and Demand for ARGAN's Assets
The completed sales demonstrate ARGAN's robust position in the market, characterized by high demand and premium quality. The warehouses and datacentres within its portfolio reflect a yield consistent with the French PRIME rate, underscoring their desirability.
Cash Generation for Future Growth
The cash inflow from these asset sales is part of a larger strategy to self-finance ongoing developments and reduce overall debt levels. This approach highlights ARGAN's commitment to sustainable growth and financial health.
Partnership and Support in Transactions
For this deal, ARGAN collaborated with CBRE and the Jubault Notarial Office, ensuring a smooth transaction process while leveraging expert insights and assistance.
Looking Ahead: Financial Calendar for 2025
As ARGAN looks toward the future, several key dates are approaching on their financial calendar. Notably, the net sales for the 4th quarter of 2024 will be published on January 3, followed by the annual results announcement on January 16.
About ARGAN: A Leader in Premium Warehouse Development
Specializing in the DEVELOPMENT and RENTAL of premium warehouses, ARGAN holds a unique position in the French market. The company focuses on pre-let warehouses designed for blue-chip clients and supports developers throughout the project lifecycle. With a portfolio of 3.6 million sq.m. valued at €3.8 billion, ARGAN continues to maintain a strong annual rental income of approximately €200 million.
Contact Information
If you wish to reach out for further information or inquiries, you can contact:
- Francis Albertinelli – CFO
- Aymar de Germay – General Secretary
- Samy Bensaid – Head of Investor Relations
- Phone: +33 1 47 47 47 40
- Email: contact@argan.fr
Frequently Asked Questions
What did ARGAN sell to Invesco Real Estate?
ARGAN sold its datacentre located in Wissous as part of its asset sales program for 2024.
How much was the datacentre sold for?
The datacentre was sold for €59 million, excluding duties.
Why is this sale significant for ARGAN?
This sale finalized ARGAN's target of €77 million for asset sales in 2024, demonstrating its strategic success.
Who was involved in the transaction?
ARGAN was supported by CBRE and the Jubault Notarial Office during this transaction.
What is ARGAN's focus in the real estate market?
ARGAN specializes in the development and rental of premium warehouses, focusing on sustainability and client-centric projects.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.