French listed property group Foncière des Régions has announced the sale of nearly €290 mln of non-strategic assets as part of its strategic refocusing on offices in France and Italy, hotels in Europe and residential assets in Germany.
FdR said it has agreed to sell a French retail portfolio for a total of €287 mln to an unnamed party. The package includes 81 assets rented to Quick for €264 mln and five assets leased to Jardiland for €23 mln.
The disposals add to a further €949 mln of disposals completed by FdR since the beginning of the year.
FdR is in the midst of a major restructuring of its subsidiaries as part of plans to simplify its organisational structure and make it more attractive for equity investors.
Under this strategy, FdR said in October that it plans to take its residential unit private while its two hotel units will be merged in one platform.
