Fonciere des Regions sells retail portfolio for €287m

Fonciere des Regions announced the signing of sales and preliminary sales agreements amounting to €287 million ($337 million) for retail assets in France.

The group is continuing its strategic refocusing on core activities, i.e. offices in France and Italy, hotels in Europe and residential assets in Germany.

These agreements concern the sale of commercial assets rented to Quick (81 assets for €264 million/$311 million)) and Jardiland (five assets for €23 million/$27 million).

Fonciere des Regions is selling a significant part of its non-strategic assets, including all Quick assets, which have either been sold or are under preliminary sales agreements.

These new disposals, combined with the €949 million ($1.12 billion) in sales already secured since the beginning of the year, are a significant new step for Fonciere des Regions in its goal of refocusing on its four strategic business lines set in the heart of major European cities.