PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
French FdR deal with France Télécom includes e133m asset sales
French SIIC Foncière des Régions has signed an agreement with its largest single tenant, France Télécom, for the latter to take longer leases for 108 buildings in the Paris region and other major cities and to purchase 65 properties from FdR for e133m. The deal marks the latest step in FdR's 2010 action plan, which adapts strategy to the current economic crisis. The result is to extend lease terms and increase security in the group's rental cash-flows, and it also implies that the annual asset sales goal of e500m will be exceeded this year.