Icade

Icade sold the Marignan asset for €402m, raising liquidity to around €2.8bn and cutting the loan-to-value ratio by about 3 percentage points. Operationally, consolidated revenues in the first quarter fell 14.7% to €278.2m; gross rents and project development collapsed. The occupancy rate dropped to 85.0%, while project development order volume rose 4% but the value of orders fell 21%. Icade confirms its 2026 guidance and stresses that the portfolio measures create financial flexibility amid pressure in the leasing market. » More on de.investing.com

ICADE recorded a consolidated revenue decline of 9% to €923.0m in the first nine months of 2025. The company completed strategic disposals totaling around €430m, of which €210m were in the healthcare sector and €220m from mature or non-strategic assets. Despite lower revenues, ICADE highlighted solid leasing metrics and confirmed its full-year guidance with NCCF per share of €3.40–3.60. Management expects a slow recovery in project development no earlier than 2027 and continues to focus on portfolio optimization and selective disposals. » More on de.investing.com

In the first quarter of 2025, ICADE reported a 10% drop in revenue to €630 million, but managed to significantly increase EBITDA to €145 million. The company highlights its strategic shift towards diversification and resilience in response to a challenging real estate market, particularly through investments in student housing and light industrial assets. CEO Nicolas Jolie emphasizes a pragmatic approach to pricing and expects a market recovery by 2027. » More on de.investing.com