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French SFL Does €117M in Dispositions

PARIS-Proceeds will go toward two loans that Société Foncière Lyonnaise has coming due this year.

By Allan Saunderson | Updated on August 03, 2009

Allan Saunderson is managing editor of Property Finance Europe and a contributor to GlobeSt.com.

PARIS-Société Foncière Lyonnaise, one of France’s largest REIT/SIICs, has in recent weeks completed disposals totaling €117 million, the first since its former major shareholder, the struggling Spanish property group Colonial, which requested transaction suspensions in 2007/8, sold its SFL stake to private equity group Orion Capital Managers.

SFL Managing Director Nicolas Reynaud told PIE: “We initiated these deals at the beginning of 2009, and the disposals are in line with our 2009 disposal program. They remain modest as they only represent 3% of our portfolio.”

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