The story
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.
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. In 2016, Eurosic acquired Foncière de Paris, which had previously merged with Foncière Paris France in 2013.
In 2018, the Caisse de dépôt et placement du Québec became Gecina's leading shareholder, with a 23% interest.
On July 21, 2018, Gecina sold chain restaurants belonging primarily to Léon de Bruxelles and Courtepaille for nearly 20 million euros. These assets had been held since Eurosic was acquired in 2017.
In 2020, Gecina created a dedicated subsidiary to house its residential business with a view to developing its residential portfolio in the most central sectors of major cities, aimed at middle-class households.
From Wikipedia’s article on Gecina, shared under CC BY-SA 4.0.5