AllanSaundersonis managing editor of Property Finance Europe and acontributor to GlobeSt.com.
PARIS-French SIIC Foncière des Régions has signed an agreementwith its largest single tenant, France Télécom, for the latter totake longer leases for 108 buildings in the Paris region and othermajor cities and to purchase 65 properties from FdR for €133million.
The deal marks the latest step in FdR's 2010 action plan, whichadapts strategy to the current economic crisis. The result is toextend lease terms and increase security in the group's rentalcash-flows, and it also implies that the annual asset sales goal of€500 million will be exceeded this year, FdR said.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
