ANF: a major real estate investor
ANF is a major real estate operator in the Lyons and Marseilles city centres as well as also holding a large portfolio of hotel properties in France.
Appraised at €1,504 million as of December 31, 2009, ANF’s real estate assets are comprised of buildings covering 260,000 square metres, around 130,000 square metres in new developments and 166 hotel properties leased to France’s third largest hotel chain, B&B. The properties break down as follows:
- Lyons city centre: 56 mixed-use Haussmann-style properties (49% retail premises, 22% residential units and 29% offi ce space).
- Marseilles city centre: 179 mixed-use Haussmann-style properties (37% retail premises, 38% residential units, 16% offi ce space and 9% other).
This prime city centre location with a heavy retail component – in high-growth potential cities – and the diverse tenant base means that ANF’s rental income is particularly protected against any decline in consumption and able to withstand economic diffi culties.
