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Covivio — M&A Activity 2014
Feb 3, 2014
1222_iss_2014-02-03_bbdf5524-fe05-43bd-ba30-203309fcb07a.pdf
M&A Activity
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PRESS RELEASE
Paris, 3 rd February 2014
Foncière des Régions supports B&B in its European expansion effort
Foncière des Régions and B&B have signed a partnership agreement for the financing of nine new hotels in Germany over the next three years. The investment will amount to around €50 million, strengthening the partnership that was initiated between the two groups in 2010.
B&B intends to pursue its expansion in Germany beyond its existing base of 61 hotels established in the country. To achieve this, the company set up a protocol with Foncière des Régions, its partner since 2010, who is very active in the Hotel and Residential sectors in Germany.
The protocol concerns the development of nine new B&B hotels, representing 900 rooms located in town centres of major German cities. This new partnership involves an investment of around €50 million.
The new hotels, set to open between 2014 and 2016, will be let on 20 year leases with a net triple base rent.
With this project, Foncière des Régions and B&B consolidate their partnership and continue to pursue their development policy in Germany, a strategic country for both entities.
Media Relations Géraldine Lemoine Tel: + 33 (0)1 58 97 51 00 [email protected]
Investor Relations Sébastien Bonneton Tel: + 33 (0)1 58 97 52 44 [email protected]
Foncière des Régions, real estate partner
As a partner to companies' real estate strategy, Foncière des Régions designs simple and innovative solutions alongside them. The aim of these strategies is twofold: of adding value to existing urban property and designing buildings for the future.
Foncière des Régions owns and manages real estate assets of €10 bn group share (€16 bn total share), which are primarily rented to key accounts who are the leading companies in their sector (Suez Environnement, Thales, Dassault Systèmes, Orange, EDF, IBM, and Eiffage, etc.). This responsible partnership culture is based on key values and know-how: namely vision and expertise.
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.