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ANF to Sell Half of its Property Portfolio

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Published on 31/08/12 - Updated on 17/03/22

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French property group ANF Immobilier has announced its intention to sell a portfolio of 167 B&B Hotels around France as well as the bulk of its property portfolio in Lyon. The two deals amount to almost half of ANF’s €1.7bn property portfolio.

With the publication of its first half 2012 results, real estate group ANF Immobilier, majority-owned by investment group Eurazeo, has announced its intention to sell 167 hotels under the budget B&B brand in France. Real estate investment trust Foncière des Murs and fund manager La Française REM as part of a consortium have offered €503.5 million for the ensemble of hotels. Similarly, UK real estate firm Grosvenor Group, owned by the Duke of Westminster, has offered to buy the bulk of ANF's property portfolio in Lyon for €313.1 million.Together the offers would amount to over €800 million. The sales could be completed as early as November 2012 and would enable ANF to invest in additional developments in Marseille and Lyon and acquire growth assets in Bordeaux.

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