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FdR inks €301M deal to shed health care assets portfolio

Foncière desRégions is off-loading its entire health care assets portfolio for€301 million as part of its strategy to focus on its core activities.

The company's subsidiary, Foncière des Murs, inked a deal onJuly 4 with Primonial Reim for the sale of the portfolio, which comprises 26establishments in Paris' Ile-de-France region and various regions in France.The properties are primarily nursing homes leased to the Korian Group. Foncièredes Régions acquired the properties between 2004 and 2005.

The deal has a net margin of 25%. The company said the salewill allow it to focus on offices in France and Italy, hotels in Europe, andresidential projects in Germany.