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Covivio — M&A Activity 2014
Oct 3, 2014
1222_iss_2014-10-03_95b47b08-79c9-46d3-9e1c-82e1f3a66e00.pdf
M&A Activity
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PRESS RELEASE
Paris, 3 October 2014
Foncière des Régions pursues its German Residential strategy
Through its German subsidiary Immeo, Foncière des Régions has just purchased two additional residential portfolios in Berlin for €26 million (€16 million group share).
Furthermore, Foncière des Régions also finalised the acquisition, announced last June, of €240 million (€144 million group share) in housing units in Berlin and Dresden.
Lastly, within the framework of its sale of mature assets, a preliminary sales agreement was signed for nearly €117 million (€70 million group share) in non-core housing located in the Ruhr region. The sale should be effective by the end of the first half of 2015.
In all, through these various operations, Foncière des Régions continues to improve the portfolio's organic growth potential by building on investments in the attractive Berlin and Dresden markets, while reducing the non-core portion of its German portfolio by nearly 20%.
Foncière des Régions has been operating in the German Residential market since 2005 with a high-quality local team. It aims to continue to strengthen its positioning in dynamic and attractive cities, such as Berlin and Dresden, where it already holds a total portfolio of nearly €1 billion.
Press Relations Géraldine Lemoine Tel : + 33 (0)1 58 97 51 00 [email protected]
Investor Relations Paul Arkwright Tel : + 33 (0)1 58 97 51 85 [email protected]
Foncière des Régions, real estate partner
As a key player in real estate, Foncière des Régions has built its growth and its portfolio on the key and characteristic value of partnership. With a total portfolio valued at €16Bn (€10Bn in group share), located in the high-growth markets of France, Germany and Italy, Foncière des Régions is now the recognised partner of companies and territories which it supports with their real estate strategies with a twofold: adding value to existing urban property and designing buildings for the future.
Foncière des Régions mainly works alongside Key Accounts (Suez Environnement, Thales, Dassault Systèmes, Orange, EDF, IBM, and Eiffage, etc.) in the Offices market as well as being a pioneering and astute operator in the two other profitable sectors of Residential market in Germany and Hotels.
Foncière des Régions shares are listed in the Euronext Paris A compartment (FR0000064578 - FDR), are admitted for trading on the SRD, and are included in the composition of the MSCI, SBF 120, Euronext IEIF "SIIC France" and CAC Mid100 indices, in the "EPRA" and "GPR 250" benchmark European real estate indices, and in the FTSE4 Good, DJSI World and NYSE Euronext Vigeo (World 120, Eurozone 120, Europe 120 et France 20) ethics indices. Foncière des Régions is rated BBB-/Stable by Standard and Poor's.