Icade
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| Company type | public |
|---|---|
| Euronext: ICAD CAC Mid 60 Component | |
| Industry | Real-estate investment company |
| Founded | 1860 (SCIC) [1]F |
| Headquarters | Issy-les-Moulineaux, France |
Key people | Olivier Wigniolle, CEO [2] |
| Revenue | € 1.77 billion (on December 31, 2018)[3] |
| € 300.2 million (2019) | |
| Total assets | € 11.3 billion (on December 31, 2018)[3] |
| Website | Icade (EN) |
Icade SA is a multinational real estate investment trust (REIT) that is headquartered in Paris, France and is a subsidiary of Caisse des dépôts et consignations. The name is an abbreviation of Immobilière Caisse des Dépôts. It invests in various types of properties including health care, offices, business parks, housing and public facilities. Icade gained SIIC (REIT outside France) eligibility in 2007 after combining many of its subsidiaries. It is one of France's largest property businesses.[4] Icade became the leading commercial real-estate company for offices and business parks in the Ile-de-France region,[5][6] is the largest real-estate investment company in healthcare sector of France and a key partner of major French cities. Many of the buildings in La Défense belong to Icade.[4]
Icade and Silic merged on 31 December 2013. Since the merger, the new company has divested a number of assets in order to finance new construction projects and acquire more assets outside of France.[7]
History
SCIC
SCIC was a housing construction project owner in France, and was particularly active in the Paris region. During the 1950s and 1960s, it worked with a number of architects architects to build housing at Sarcelles (France's first large-scale programme, with over 10,000 housing units), Créteil and Massy-Antony. [8]
Icade
Icade was created in 1954 as Société Centrale Immobilière de la Caisse des dépôts by Caisse des dépôts as a subsidiary. It was not until the 1980s that it started investing in non residential/public properties. SCIC was renamed Icade SA in 2003, and its capital opened up to shareholders outside the Caisse des dépôts et consignations.
In 2005, Icade delivered its first commercial building produced using HQE environment-friendly quality processes.
Icade was successfully floated on the Paris Euronext stock exchange on 12 April 2006, under Étienne Bertier (CEO of Icade from October 2003 to August 2007). It had an ipo of about €2.64 billion.[9]
In 2009, the French government considered Icade as a potential "asset in the strategic investment fund that will be key to reviving France's economy". However, this did not ultimately come to pass. In late 2009, Icade acquired Compagnie la Lucette from Morgan Stanley.[10]
On November 13, 2009 Icade sold about 4745 housing units to a group of 25 social housing investors representing another company SNI. That move brought the number of residential units sold or committed for sale in late 2009 to early 2010 up to 29,452. The value of assets divested adds up to about €2 billion.[11]
In the summer of 2010 Icade reached an agreement with another company called MVRDV to develop part of France's first Eco-quarters, a residential complex made up of low energy buildings a first for France.[12]
In 2013 the Merger-absorption of Silic by Icade occured.[13]
On February 17th, 2015, Chairman and CEO of Icade, Serge Grzybowski, resigns. Icade SA appoints Jean-Paul Faugere as Chairman of the Board of Icade and Nathalie Palladitcheff as Chief Executive Officer on a temporary basis [14].
Major construction is currently underway to the West of Paris.[15]
In 2019 it established a major presence in Germany with the acquisition of 19 long term care homes. It is part of a plan to become the first Europe-wide reit[16]
Key figures
| 31/12/2012 | 31/12/2013 | |
|---|---|---|
| Net profit group share (million €) | 53 | 127 |
| EPRA triple net NAV per share (€) | 80.7 | 77.3 |
| Net worth (billion €) | 6.8 | 9.1 |
| Employees | 1,721 | 1,479 |
| Square metres owned by Icade | 2,436,759 | 3,085,000 |
| Clinics owned by Icade | 55 | 59 |
Activities
Property investment
Icade's assets include offices, shopping centres, business parks, healthcare facilities.
- Offices: In France, Icade handles office properties most of which are located in and around Paris.[10]
- Business parks: Icade's business parks are located in Paris, Saint-Denis, Aubervilliers, Rungis, Nanterre-Seine, Colombes...
- Icade owns two shopping centres: Le Millénaire in Aubervilliers (north-eastern Paris suburbs), opened in April 2011 (50%-owned by Klépierre) and "Le Parc de Fresnes".
The alternative assets portfolio (Icade Santé) : Icade owns 62 establishments as at 30/06/2014.
Notes
- ^ "Forbes 2000 list : Icade". Retrieved May 25, 2020.
- ^ "Icade's page on Olivier Wigniolle". Icade.fr (EN)
- ^ a b "Icade Annual Results (2018)"
- ^ a b "Questor: this French property firm could be a beneficiary of a 'hard Brexit'". July 18, 2018.
- ^ Enright, Theresa,. The making of grand Paris : metropolitan urbanism in the twenty-first century. Cambridge, Massachusetts. pp. 213, 214. ISBN 978-0-262-03469-2. OCLC 946160387.
{{cite book}}: CS1 maint: extra punctuation (link) CS1 maint: multiple names: authors list (link) - ^ "Interview: "Making Icade an integrated real estate operator, leader in France"". June 6, 2016.
- ^ "Immobilier : Icade rachète ANF". July 24, 2017.
- ^ "Icade profile". Retrieved May 25, 2020.
- ^ "News".
- ^ a b Icade Annual Results (2012)
- ^ "Icade : Sale of Icade's housing division". EuroInvestor.
- ^ "Eco-quarters the new trend in city design - Environment - The Independent". web.archive.org. 2010-08-07. Retrieved 2020-06-03.
- ^ "Icade négocie le rachat de la part de Groupama dans Silic". January 12, 2011.
- ^ "BRIEF-Chairman and CEO of Icade, Serge Grzybowski, resigns". February 17, 2015.
- ^ "Immobilier: Icade cède les murs de son siege". January 3, 2019.
- ^ "Icade reveals plans to establish first Europe-wide healthcare REIT". July 23, 2018.
External links
Media related to Icade at Wikimedia Commons