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Provider: Reuters Investment Profile
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Fonciere des Murs SCA to Build Hotel in Porte de Choisy; Updates on Asset Disposals; Borrows EUR 450 Million

Monday, 4 Nov 2013 12:00pm EST 

Fonciere des Murs SCA announced that it signed a contract to build a 182-bedroom hotel, which will be leased to B&B and which is located in Porte de Choisy. There is a 12-year lease on the property and it will be delivered in 2015. In addition, the Company announced that since the start of 2013 it has sold 25 assets for a total of EUR 90.2 million. Agreements for the sale of 21 assets worth a total of EUR 99.3 million have also been signed. The Company has also reached am agreement with Natixis and AXA to borrow EUR 450 million in two tranches over five and seven years. The money will primarily be used to refinance the Company's 2014 debt. 

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-0.15 -0.63%
24 Jul 2014