Gecina

Gecina is a residential, office, and healthcare focused real estate investment trust (REIT). Its portfolio of properties also includes shopping malls, warehouses, and logistic centers responsible for coordinating commercial businesses such as those operating in business parks. Almost all of its business comes from France (in 2009 only 1% of assets were abroad) where it dominates the Paris market (is the largest residential and commercial property owner, France is the 2nd biggest market for real estate in Europe outside London). Outside Paris it has traditionally been a large investor in Lyon. As of 2010 Gecina is reducing its interest in some business lines such as warehouses because of their limited market growth potential.

The company has the third highest asset value among European REITs, largest French SIIC by market cap and second largest publicly traded property company in France (next to Fonciere des Regions and Icade). 88% of business comes from only two of five business segments (offices and residential) and in March 2010 it had a market cap of $6.6 billion. For the 2010 fiscal year 83% of rental revenue came from the Paris region (47% from the city core), 15% from elsewhere in France (40% of that from Lyon) and 2% from abroad. Leading revenue generating assets were offices (54%) followed by residential structures (30%). Healthcare (8%), logistics (5%) and hotels (2%) contributed a combined 15%. Gecina is a constituent of the FTSE EPRA/NAREIT Developed Europe index and a member of the European Public Real Estate Association (EPRA).