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ANF: a major real estate investorANF is a major real estate operator in the Lyon and Marseille city centres as well as also holding a large portfolio of hotel properties in France. Appraised at €1,573 million as of December 31, 2010, 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:
The portfolio of hotel properties spread across France is leased (minimum 12-year terms, expiring in 2019) at fi xed, indexed rents, providing a steady, secure stream of rental income. By virtue of their diversity, ANF’s real estate assets thus provide it with a sound and resilient base. |