Fonciere des Regions' subsidiary Fonciere des Murs has signed a sale-and-leaseback agreement to acquire a portfolio of 57 garden centres operated by the Jardiland group for EUR 242 mln including taxes and expenses. The assets, which represent two thirds of Jardiland's sites, are spread throughout the country.
Fonciere des Regions' subsidiary Fonciere des Murs has signed a sale-and-leaseback agreement to acquire a portfolio of 57 garden centres operated by the Jardiland group for EUR 242 mln including taxes and expenses. The assets, which represent two thirds of Jardiland's sites, are spread throughout the country.
Jardiland will be the tenant of the sites with a 12-year lease contract, renewable up to three times for 9-year periods. Jardiland will pay an annual rent of EUR 15.2 mln excluding taxes. Foncière des Murs has a property portfolio of about EUR 2.45 bn.
