Fonciere des Regions

Foncière des Régions

Type	public
Traded as	Euronext: FDR
Industry	Commercial Real Estate Parking lot Residential Real Estate
Founded	1963
Headquarters	Paris, France
Key people	Christophe Kullmann,ceo,chair Charles Ruggieri,sv chair
Revenue	€789.6 million (2010 revenue)3.7%
Operating income	€1288.1 million(group)
Net income	€627.2 (2010 over 2009 loss)
Total assets	€14.7 billion5.4%
Total equity	€6.0277 billion25.4%
Number of employees	809
Divisions	Foncière Développement Logements Foncière des Murs Foncière Europe Logistique
Website	www.en.foncieredesregions.fr

Foncière des Régions (pronounced [fɔ̃.sjɛʁ dɛ ʁe.ʒjɔ̃]) is a holding company of real estate investment (REIT) companies that own residential and commercial properties in 8 countries (mostly Europe). Its business comes from the rental and leasing of properties (including hotels and car lots) over 70% of which is office space in France and Italy (in 2009 vacancy rates were at 5.3% in France, in other major markets like Rome, Italy rental income was lower because office space use was halved). Its biggest clients are major companies the largest of which is France Telecom which rented half of Fonciere's office space in France (about 1 million m² (though its share of rental income was 51% in 2009 compared to 60% in 2008). Other major customers are Telecom Italia and Electricite de France and IBM. The company has a 15% interest in France's biggest business park developer, Altarea SCA. Most properties are under its control however there are also about 60 properties that it has a minor stake in (interests in them range from 25 to 38 percent). Widely recognized properties include one of France's tallest skyscrapers Tour Gan (also known as CB21) and in Paris.

Other assets include parking lots (Parcs GFR), retirement homes, warehouses (Fonciere Europe Logistique SCA, Fonciere Developpement Logements SA) hotels, medical facilities, and business parks (15% of France's largest developer Altarea SA).

Altogether the company had a market value of between €3.5 and €3.9 billion in 2010.

Fonciere des Regions was created in 1963 as Garages Souterrains de Metz an operator of underground garages/parking lots. Most growth happened in the 21st century beginning with key acquisitions and leaseback agreements with EDF, AXA, AGF between 2000 and 2004. In 2000 it acquired housing developer Sovakle. In 2004 the division dealing with hotels, Foncière des Murs was formed.

Fonciere des Regions's largest shareholder is currently Italian Delfin (the holding company of Italian billionaire Leonardo Del Vecchio) with a nearly 30% stake.