BBVA sells its headquarters in Paris
BBVA has sold its Paris headquarters to a financial investor for €32 million. BBVA, which acquired the building in 1919, will continue to lease this emblematic building. The sale forms part of the group’s strategy initiated six years ago to streamline its real-estate portfolio.
BBVA France announced today it has signed a sale-and-leaseback agreement to sell its Paris headquarters to a financial investor for €32 million. Located at 29 Avenue de l’Opéra very close to Louvre Museum, in one of the most sought-after districts of the French capital, BBVA’s headquarters in France occupies 2,000 m² of floor space.
This operation is part of BBVA Group’s strategy initiated six years ago to optimize its real-estate portfolio worldwide, by sales and lease back agreements.
“Selling our historic headquarters in Avenue de l’Opéra at the height of the real-estate market is an excellent operation,” reveals François Wohrer , Head of BBVA in France. “The operation fulfills the Group’s objectives: to materialize capital gains on the book price of a historical building acquired in 1919, and earmark the value of the asset to funding new investments. With this operation also BBVA’s real-estate portfolio in France will be optimized.”
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BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is biased to high-growth markets and it relies on technology as a key sustainable competitive advantage. BBVA ranks among the leading Euro zone banks in terms of ROE and efficiency. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.
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