Icade Acquires Full Ownership of Eqho Tower in La Défense with Over 8% Yield
Real estate group Icade has acquired the remaining 49% of the Eqho Tower held by South Korean investors, thus increasing its stake to 100% in this iconic office building in La Défense. The transaction, carried out under financially attractive conditions, values a yield of over 8%.
Icade completed the acquisition of the remaining 49% of the Eqho Tower, a SAS co-owned until July 13, 2026. This operation follows the lease renewal with KPMG and the signing of a new contract with the Hauts-de-Seine Prefecture in 2025, actions led by the group's asset management teams. The tower, fully leased since these renegotiations, now offers increased visibility on its rental income. With a total area of approximately 79,000 sqm spread over 42 floors, the building offers a wide range of services: a 330-seat auditorium, four restaurants, and the largest private fitness space in the business district.
Yield Exceeding 8%
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The acquisition generates a yield exceeding 8%, including taking into account the renewal of the KPMG lease. This operation will have a dilutive effect on the group's current net cash flow. Icade notes that the asset was already consolidated in full integration in its accounts prior to this acquisition. The tower benefits from a prime location and accessibility at the heart of La Défense, and boasts a high level of environmental certifications, including HQE Sustainable Building Excellent level and BREEAM In-Use Excellent level.
Dans ce contexte, le Groupe est prudent et communiquera sa guidance pour l'exercice 2027 lors de la publication des résultats annuels
Risks mentioned
Environnement économique et financier dégradé, marqué par la persistance des conflits au Moyen-Orient
Climat politique incertain en France et remontée significative des taux d'intérêt
Ralentissement du marché immobilier avec attentisme des acquéreurs et des utilisateurs
Opportunities identified
Cession de l'immeuble Marignan générant une plus-value de 255 millions d'euros
Acquisition de Comet, acteur de l'événementiel corporate, pour développer la transformation digitale
Partenariat avec la Banque des Territoires pour investir 240 millions d'euros dans les résidences étudiantes
Outlook / guidance
Management commentary: Icade confirme son objectif de Cash-Flow Net Courant Groupe pour 2026, attendu entre 2,90 € et 3,10 € par action
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
