Foncière des Murs, Crédit Agricole Assurances and Assurances du Crédit Mutuel announce the acquisition of a portfolio of 165 B&B hotels

The acquired portfolio comprises 165 hotels located in France and represents more than 12,000 rooms. This transaction, which is worth a total of €508 million before tax, will be carried out through a French real estate investment fund (OPCI) held by Foncière des Murs (50.2%), Crédit Agricole Assurances group (40%) and Assurances du Crédit Mutuel (9.8%). The pre-tax yield on the transaction comes to 6.9%.
This portfolio, which has solid fundamentals, comes with a lease with a residual term of seven years, with fixed, guaranteed, indexed rents.
B&B will retain ownership of the business assets and continue to manage the range of two-star hotels. This new deal will enable Foncière des Murs to position itself as a preferred partner of B&B, particularly by helping it with its expansion plans. It is also part of the strategy of the Crédit Agricole Assurances group and Assurances du Crédit Mutuel for diversifying into a strong growth sector offering high returns.
Using a dedicated team, Foncière des Murs will be responsible for the portfolio’s administrative and asset management, confirming its role as a preferred partner to major hotel operators and building on its growth momentum in this sector.