Icade transforms a former Neuilly hotel into 166 family apartments
As part of its urban recycling strategy implementation, Icade inaugurated with Artbridge Investments a residential complex resulting from the transformation of a former hotel in Neuilly-sur-Seine. The operation illustrates the developer's approach of leveraging existing buildings rather than new land acquisitions.
A former 280-room hotel transformed into 166 apartments
On September 3, 2026, Icade and Artbridge Investments inaugurated the "58 Victor Hugo" residence in Neuilly-sur-Seine, in the presence of mayor Jean-Christophe Fromantin. Acquired by Icade Promotion and Artbridge Investments in 2022, the former 280-room hotel was transformed into 166 family apartments, over a total area of approximately 16,000 m² incorporating nearly 1,800 m² of extension through upper floors and additional structures.
The project was designed by Ory.Architecture. Each apartment has access to a private outdoor space, with top-floor units benefiting from rooftop terraces, for a total of over 4,500 m² of private outdoor spaces. The residence also includes common areas dedicated to wellness, including an indoor swimming pool and fitness room.
Mixed programming and environmental objectives
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The operation is based on programming distributed across five separate buildings: 84 apartments for sale, 32 apartments acquired by AG2R La Mondiale and available for rent, and 50 social housing units (PLAI, PLUS, PLS) acquired by Vilogia. The acquisition of the latter was made possible through financial support from the State, the Île-de-France Region, Action Logement and the City of Neuilly-sur-Seine.
The project aims to obtain BiodiverCity, BBC Effinergie Renovation and NF Habitat HQE certifications, with newly constructed sections complying with the 2020 environmental regulations (RE2020). Materials from the former hotel were recycled and reused. Nearly 3,000 m² of green spaces were developed: 28 trees were preserved during construction, while 37 additional trees and 1,500 shrubs were planted.
Confirmation de la guidance annuelle 2026 avec un CFNC Groupe attendu entre 2,90 € et 3,10 € par action
Risks mentioned
Baisse de valeur du patrimoine de -3,1 % à périmètre constant, dont -2,8 % sur les bureaux
Réversion négative attendue sur les renouvellements de baux, potentiel de -7,1 % sur les loyers faciaux
Coût moyen de la dette en hausse à 1,85 %, attendu à environ 2 % fin 2026 ; ICR dégradé à 3,8x
Opportunities identified
Promesse de vente des actifs de santé au Portugal, environ 75 M€ en quote-part Icade
Acquisition des 49 % de la Tour Eqho avec un rendement supérieur à 8 %, relutive sur le CFNC
Réservations résidentielles en hausse de 11,9 % en volume et 6,4 % en valeur
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