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Foncière des Régions ) is a holding company of real estate investment companies that own residential and commercial properties in 8 countries . Its business comes from the rental and leasing of properties , over 70% of which is office space in France and Italy . Its biggest clients are major companies, the largest of which is France Telecom, which rented half of Fonciere's office space in France . 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 . Widely recognized properties include one of France's tallest skyscrapers Tour Gan and Carré Suffren in Paris.Other assets include parking lots , retirement homes, warehouses hotels, medical facilities, and business parks .
In August 2010 in a joint venture with France's largest bank Credit Agricole, it acquired 48 European hotels from hospitality company Accor. The deal was worth 367 million euro.
After acquiring 35% of Italian real estate company Beni Stabili from Italian company Delfin it purchased the rest of it in 2007. It was Fonciere's single largest investment in Italy bringing its asset portfolio there to €4 billion.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 with a nearly 30% stake.In 2018, Foncière des Régions became Covivio.
