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.
Related Articles
- Integral Ad Science Enhances TikTok Ad Solutions for Advertisers
- Optimum Strategic Communications Celebrates Growth at Investor Conference
- Main Street Capital Initiates Major Investment in Victory Energy
- Opthea Strengthens Leadership Team Prior to Key Clinical Trials
- Laser Photonics: Transforming Industries with Innovative Lasers
- China's Strategic Staggering of Economic Stimulus Explained
- HSBC Upgrades Chinese Stock Index Targets Amid Policy Changes
- Shein's Impressive Growth: $2 Billion Sales Surge in 2023
- PlanSource Welcomes New Chief Growth Officer, Greg Mercer
- Future of Automotive Active Grille Shutter Market
Recent Articles
- Ignitis Group's Generous Support for Ukraine's Energy Needs
- Ignitis Group's Humanitarian Aid to Ukraine's Energy Sector
- DSV A/S Successfully Completes Capital Increase of 26.4 Million Shares
- Coty Celebrates 120 Years of Fragrance Innovation and Legacy
- Adenia Partners Expands Operations into the Egyptian Market
- Global Call to Action: World Living Soils Forum Launches
- TeraWatt Technology Launches New Mass Production Facility
- TCL Debuts Innovative 5G Technologies at Broadband World Forum
- Revolutionizing Off-Grid Connectivity with Satellite Technology
- Vodafone and Google Forge a Powerful New Alliance for AI Growth
- Instantia's Strategic Partnership with ION FX Enhances Services
- Revolutionizing Optical Networking with Ribbon's 800G Solution
- Boussard & Gavaudan Shares: Latest NAV and Market Insights
- Innovative Microgrid Solutions Propel Crypto Mining Forward
- Fold, Inc. Pushes Ahead with Nasdaq Listing and Bitcoin Holdings
- MicuRx Pharmaceuticals Unveils MRX-5's Success in Infection Treatment
- Discover Husqvarna Group's Third Quarter 2024 Results
- Investors Show Renewed Interest in Chinese Markets through ETFs
- Bitcoin Experiences Declines Amid Rate Concerns and Market Sentiment
- Boussard & Gavaudan Holding Limited: A Comprehensive Overview
- Endeavour Mining's Strategic Share Buyback Update
- Sampo plc Boosts Share Buybacks: Key Details and Impact
- Innofactor's Successful Tender Offer Results and Future Prospects
- Elepay Compliance Assurance Signals Positive Future for Growth
- CellPoint Digital Expands Leadership with Key Executive Changes
- Acer's Commitment to Sustainability Through Innovative Solutions
- Market Update: Australia Shares Slip as Key Sectors Struggle
- China's Economic Decisions Impact on Metal Prices and Markets
- Federal Reserve Signals Future Rate Reductions Ahead
- Deloitte Under Fire: Potential Threats to Federal Contracts
- Roche's Survey Reveals Critical Gaps in HPV Awareness and Screening
- Bitcoin's Ongoing Journey: Navigating New Waters in Crypto
- Adidas Seizes Opportunity Amid Nike's Challenges in Footwear Market
- China's Market Dynamics Impact Global Investor Sentiment
- Xalts Partners with Polygon to Revolutionize Tokenization
- TextMagic Reports Mixed Sales Results for Q3 Performance
- Bigbank AS Launches Public Offering for Subordinated Bonds
- TGS Q3 2024 Update: Strong Demand and Vessel Utilization Insights
- Exciting Insights on MENA Insurance Markets from AM Best
- Financial Inclusion Continues to Thrive Amid Global Challenges
- Understanding the Concept of Sovereign AI in Global Tech
- Gold and Copper Prices Phenomenon: Market Reactions Explained
- Celebrating a Decade of Growth in Hydrogen Energy Technology
- Citi Predicts Short-term Price Surge for Metals Amid China's Boost
- Insights on Interest Rate Adjustments from Fed's Williams
- China's Stock Market Movements and Global Economic Impacts
- Innovative Environmental Companies Unite for WEFTEC 2024
- Understanding the Domino's Pizza Legal Challenge: What Investors Need to Know
- Silver One Initiates Airborne Geophysical Survey at Phoenix
- Experience the Enchantment of Huangshan's Autumn Festival