Gecina is a French real estate group that owns, manages and develops property holdings worth 20 billion euros by end-June 2020, with nearly 97% located in the Paris Region. Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris and employs nearly 500 people. The Group's business is built around the leading office portfolio in France and Europe, alongside residential assets and student residences, with over 9,000 apartments.
History
Gecina was created in January 1959 as Groupement pour le Financement de la Construction (GFC), attracting funds from around 60 insurance companies to finance the development of residential buildings.
The company changed its name to Gecina in 1998 when it acquired the real estate company Foncina. Gecina continued to develop, acquiring several real estate companies, and with the takeover of Simco in 2003, almost doubled in size to become France's largest real estate group. In 2003, Gecina adopted the “SIIC” real estate investment trust status (société d’investissement immobilier cotée) enabling it to diversify its portfolio and develop its presence in the commercial sector.[1]
In June 2017, Gecina announced its acquisition of Eurosic for 3.3 billion euros, enabling it to become Europe's fourth-largest real estate group and the market leader for office real estate.[2]