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Contributors

Marjolaine Alquier

Directrice de l’audit et du contrôle interne

Paul Arkwright

Directeur financier du groupe

Carine Assouad

Head of Investment and Asset Management

Julia Belotti

Senior Asset Manager

Jean-Luc Biamonti

Président du conseil d'administration

Marjolaine Alquier

Directrice de l’audit et du contrôle interne

Paul Arkwright

Directeur financier du groupe

Carine Assouad

Head of Investment and Asset Management

Julia Belotti

Senior Asset Manager

Jean-Luc Biamonti

Président du conseil d'administration

Sébastien Bonneton

Responsable commercialisation bureaux et offres flexibles

Philippe Boyer

Directeur de l'innovation

Elsa Canetti

Directrice des ressources humaines

Ségolène Chrzastek

Responsable marque et communication externe

Diane Czarnecki

Directrice fiscale

Christine Daninthe

Asset manager Hotels & Murs d'exploitation

Philippine de Montgolfier

Responsable commercialisation

Christian Delaire

Administrateur indépendant

Clara Descours

Responsable communication produits

Myriam Despas

Head of Compliance

Olivier Estève

Directeur général délégué

Franck Figuereo

Directeur de pôle projets

Jean-Éric Fournier

Directeur du développement durable

Erwan Garrec

Strategic Project Manager

Laurie Goudallier

Chief Transformation and IT Officer

Thibault Graillot

Directeur de l’asset management

Nissia Graine

Responsable commercialisation bureaux

Pierre-Adrien Guignetrand

Responsable projet, direction développement

Christophe Kullmann

Directeur général

Stéphanie La Sala

Head of Customer Relationships and Property Management

Patrick Larchevêque

Directeur juridique immobilier

Joséphine Lelong-Chaussier

Directrice juridique corporate M&A - General Counsel

Géraldine Lemoine

Directrice communication

Céline Leonardi

Directrice de la commercialisation

Roxane Maillard

Directrice de pôle développement tertiaire

Yves Marque

Secrétaire général

Margaux Meunier

Asset Manager bureau

Vladimir Minot

Head of Investor Relations and Financial Communication

Olivier Piani

Administrateur indépendant

Philippe Prud'Homme

Directeur régional Rhône Alpes Auvergne

Marine Renaud

Directrice de projets

Marielle Seegmuller

Directrice des opérations

Marine Terrier

Asset and Acquisition Manager

Anne-Laure Vigneau

Press & Social Media Manager

Séverine Zimra

Attachée de communication

Office

Several new leases in the Paris CBD for Covivio

Covivio is racking up the signatures at the start of 2024. After selling over 27,000 sqm of office space in recent months, the property (...)

Housing

Hines launches its brand of student residences in France

Hines created its student residence brand in 2017. Aparto, as it is known, currently operates 18 residences, with almost 6,500 beds, in Ireland, the (...)

Office

Bordeaux back on the podium of France's regional office markets

The Bordeaux office market is doing well. With 171,500 sqm placed in 2023, the city of Gironde has had "an exceptional year", according to (...)

Hospitality

Why Covivio is increasing its stake in its hotel subsidiary

By the end of April, Covivio will hold 52.2% of the capital of its subsidiary Covivio Hotels following the acquisition of the 8.3% held (...)

Listed

Covivio to take over Generali's 8.3% stake in Covivio Hotels

Covivio has signed an agreement to acquire Generali's 8.3% stake in Covivio Hotels in exchange for new Covivio shares. This transaction represents the equivalent (...)

Listed

Covivio successfully prices a €500m green bond

Paris-based REIT/SIIC Covivio has successfully placed €500m of green bonds maturing in June 2032. "The proceeds of the issue will be used to finance (...)

Hospitality

An XXL consolidation operation between Covivio and AccorInvest

Covivio and AccorInvest officially entered into exclusive negotiations with a view to reorganising ownership of the premises and goodwill of their "high-potential" hotels, according (...)

Finance

No market in Europe escapes slowdown for CRE investment by end of Q3

European commercial real estate registered the seventh consecutive quarter of falling investment in July through September, ensuring no market or sector had escaped the (...)

Hospitality

Covivio Hotels wants to accelerate its operations

Tugdual Millet knows all about Covivio's Hotels subsidiary, which he has taken over as Managing Director in spring 2021. And with good reason: he (...)

Territories

La Part-Dieu, or the art of reinvention

Long gone are the days of the Cuirassiers barracks, military land finally acquired in 1960 by the then mayor of Lyon, Louis Pradel. ‘It (...)

Office

Covivio completes sale of three French office buildings for €131m

Paris-based REIT/SIIC Covivio has completed the disposal of three office buildings for a total of €131m.These latest disposals concern three buildings with over 27,000 sqm of office (...)

Office

Paris CBD, a district like no other

What is Paris CBD? The question may make you smile, but... Everyone has their own definition of the district, "depending on the underlying real estate," (...)

Listed

"2023 will be distinguished by a shock to asset values, a real estate shock"

Business Immo: What is your initial assessment of the SIICs’ 2022 annual results? Stéphanie Dossmann: In France, many REIT/SIICs are exposed to retail. They were (...)

Listed

After a successful 2022, Covivio is thinking about the future

With €968m in consolidated rental income (+12.7 % on a like-for-like basis), Covivio reports a 5 % increase in its recurring net income (adjusted (...)

Office

Gecina signs leases at €1,000/sqm/year in Paris CBD

Paris-based REIT/SIIC Gecina says it is "on the attack". "We are trying to define the premium rent in Paris ourselves," commented CEO Beñat Ortega the (...)

Retail

Luxury giants LVMH and Kering have a "totally different vision than an ordinary investor"

The luxury industry is not experiencing a crisis. The "record" year 2022 signed by LMVH, despite the geopolitical and economic situation, attests to this: (...)

Listed

With macroeconomic turbulence ahead, Covivio keeps its head down

"If we had been told a year ago that there would be war in Europe, that inflation would be at 10% in the euro (...)

Office

Greater Paris Crane Survey: the slow decline in office production

Are offices still being built in Paris and the inner suburbs? The answer is yes! To be more precise, not only are new offices (...)

Office

A luxury brand leases Paris 8th's 21 Goujon from Covivio

Covivio has signed a lease agreement with a French luxury brand for the 8,600 sqm of the 21 Goujon office building in the 8th arrondissement (...)

Office

Turnover at Paris 8th's 64 Lisbon

At the beginning of July, Gecina stated that it had signed a firm ten-year lease, « based on current prime rents », for the (...)

Office

Covivio strengthens partnership with Thales with 38,000 sqm extension of Vélizy-Meudon business hub

Paris-based REIT/SIIC Covivio has signed an agreement with Thales on the development of a new 37,900 sqm turnkey campus in Vélizy-Meudon, while extending the existing lease (...)

Office

Covivio leases 9,200 sqm of office spaces in Paris 17th's Stream building

Covivio has signed a a 9-year rental agreement with one of the standard bearers of French Tech, covering a surface area of 9,200 sqm within the Stream (...)

Green

Bureau Veritas supports first pan-European low carbon property label

Several European players in the sector - Ivanhoe Cambridge, Covivio, BNP Paribas Real Estate, WO2, Icamap, BPI, NSI, Generali Real Estate and Struan Robertson (...)

Office

Strong growth on French operated office market (Savills)

According to the latest study by Workthere, Savills' platform for coworking spaces, demand for operated office space has risen sharply over the past year (...)

Hospitality

Covivio lets 31 hotels in France to B&B HOTELS

Paris-based REIT/SIIC Covivio has signed a memorandum of understanding, through its subsidiary Covivio Hotels, with B&B Hotels for the takeover and sale-lease of 31 (...)

Listed

"Covivio has experienced a recovery in all its business sectors in 2021"

Business Immo: Covivio presented its results for the year 2021 this evening. What do you remember about this year from a financial point of (...)

Finance

Hines France to expand its development activities to two new asset classes

While maintaining a strong commitment to offices, Hines France wants to expand its development activities to logistics and housing in 2022. The company intends (...)

Hospitality

Dutch hotel brand Zoku to enter France in Paris 17th's Stream Building

To operate the hotel component of its mixed-use Stream Building, scheduled for delivery in the summer of 2022 in the 17th arrondissement of Paris, REIT/SIIC (...)

Housing

Covivio closes €154m deal in Berlin

Covivio is continuing to expand in Germany. The Paris-based REIT/SIIC has acquired a residential portfolio of more than 640 homes in Berlin from Nox (...)

Office

Covivio sells two French office buildings for €325m

Covivio announces the sale of its share in two office buildings to Crédit Agricole Assurances for a total price of €325m. The properties concerned (...)

Office

Covivio welcomes Samsung Electronics France to the So Pop building

Covivio has announced the signing of a 9-year rental agreement with Samsung Electronics France, covering 10,500 sqm in the So Pop office building, located (...)

Listed

Covivio raises its guidance for 2021

With a better-than-expected first half, Covivio is raising its EPRA Earnings guidance for 2021 to between €390m and €400m (€4.1 to €4.2 per share), (...)

Listed

Covivio Hotels successfully priced a €500m 8-year Bond with a 1.0% coupon

Covivio Hotels, Covivio’s subsidiary dedicated to hotel Real Estate, has successfully priced a new Bond issue of €500m, maturing in 2029 and offering a 1.0% coupon. This operation, (...)

Housing

Covivio signs a residential portfolio in Berlin for €130m

Covivio has announced the acquisition of a residential portfolio in Berlin for approximately €130m. Located in very zattractive districts, the 19 assets acquired represent (...)

Office

Covivio sells two office buildings in Lyon and Villeneuve-d'Ascq

Covivio has announced the sale of two office buildings to Primonial REIM for a total of €94m: "288", which is a 12,851 sqm building located in (...)

Office

Conversion of offices into housing: a phenomenon for the future? - Knight Frank

The movement to convert offices into housing, which began in the early 1990s, has so far remained fairly limited and polarised in the capital. (...)

Office

Covivio pre-markets 40% of the Jean Goujon office building in Paris 8th

Covivio has signed a 9-year lease with Roland Berger, a world leader in management consulting of European origin, for a 3,600 sqm space in (...)

Office

€1.7bn invested in the French regions in Q1 2021 (JLL)

€1.7bn was invested during the first quarter of 2021 on the French regional market, according to JLL. While the result is down by 30% (...)

Hospitality

Covivio Hotels is preparing a €250m capital increase

Covivio Hotels, a 43.5% owned subsidiary of Covivio, is to launch a capital increase of around €250m. There is no suspense, as all of (...)

Career

A new tandem to lead Covivio's hotel division

Tugdual Millet, Covivio's current financial director, is taking over as general manager of Covivio Hotels, alongside Elsa Tobelem, who has been appointed deputy general (...)

Listed

Are SIICs inoculated against Covid-19? - iread

Stock market performance: glass half empty... Despite the vertiginous fall in share prices experienced by the entire stock market as soon as the health crisis (...)

Office

New uses: FSIF calls for (r)evolution of French real estate regulations

During a webinar, French listed property federation FSIF (Fédération des sociétés immobilières et foncières), together with Icade, Covivio and Finestate, discussed new uses in real (...)

Listed

Diversification, Covivio's key asset to get through the crisis

Covivio's top management can keep its spirits up: despite a gruelling health and economic context, the real estate company has signed an assessment that (...)

Office

Covivio sells two office buildings in Milan for €137m

  Covivio has completed the sale to Fondo Thesaurus, managed by Kryalos SGR, of two office buildings in Milan. The assets were sold for a (...)

Office

JLL launches "Serviced Office", a flexible real estate office rental solution

While the Covid-19 crisis is creating uncertainty for companies and investors, JLL offers Serviced Office, a flexible real estate solution to meet today's office (...)

Office

La Française REM acquires "Le Patio" building near Lyon

La Française Real Estate Managers (REM) has just acquired from Covivio the office building “Le Patio” located at 35/37 rue Louis-Guérin in Villeurbanne, near (...)

Listed

Covivio's revenues maintain their downward trend in Q3 2020

In Offices, growth is driven by assets in Paris (+2.5%) and major regional cities (+5.5%). In Milan, rents increased by 1.4% on a like-for-like (...)

Career

French Covivio appoints Céline Leonardi Commercialisation Director

Covivio is adapting its organisation and has decided to group its Commercialisation functions in a single division to be headed by Céline Leonardi as (...)

Office

French Covivio opens its first Wellio coworking spot in Milan

In a newly renovated neoclassical building owned by Covivio, located in Via Dante 7 in the heart of Milan, Wellio has opened its first (...)

Hospitality

Covivio buys eight hotels in Europe for €573 million

Covivio, through its subsidiary Covivio Hotels, has acquired the portfolio of eight hotels located in major European tourist destinations, in Rome, Florence, Venice (x2), as (...)

Listed

Covivio’s offices and residential performances hold up in H1 2020, but hotels suffer from the crisis

Paris-based REIT/SIIC Covivio reported rental income of €302m for H1 2020 (vs €439m in H1 2019), up 1.9% on a like for like basis (...)

Listed

Covivio priced a €500m 10-year Bond with a 1.625% coupon

Covivio priced a €500m 10-year Bond with a 1.625% coupon French REIT/SIIC Covivio has successfully priced its new Bond issue of €500m, maturing in (...)

Office

Covivio sells Respiro property in Nanterre for €83m

Paris-based REIT/SIIC Covivio has announced the sale of Respiro, an 11,173 sqm office property in the Paris suburb of Nanterre, to two SCPI funds (...)

Listed

"Covid-19: More than ever, we need to be able to listen and be agile"

Despite the coronavirus epidemic, Paris-based REIT/SIIC Covivio is continuing its takeover bid for the German company Godewind, which was launched in mid-February and in (...)

Finance

Despite Covid-19, Covivio pursues its takeover bid for Godewind

In light of the Covid-19 epidemic, French REIT/SIIC Covivio reviewed its financial strength and confirms its recent strategic move into Germany. As such, the (...)

Office

“With the acquisition of Godewin, Germany becomes our 3rd office exposure”

Covivio has just completed a €1.2bn takeover bid for Godewin, a German listed real estate company specialising in office property. A strategic investment that (...)

Office

French Covivio to launch takeover offer for Godewind Immobilien

Paris-based REIT/SIIC Covivio announced its decision to launch a voluntary public takeover offer for all shares in Godewind Immobilien AG, a listed office property (...)

Office

Covivio and Crédit Agricole Assurances to extend Dassault Systèmes’ campus near Paris

REIT/SIIC Covivio, insurance group Crédit Agricole Assurances and Dassault Systèmes have announced the extension of the software editor’s campus, located in the Inovel Parc (...)

Office

Mipim Awards 2020: France leads the way with eight nominations

The finalists for the Mipim Awards 2020 have been unveiled and France comes first with eight projects presented in Cannes, compared to five from (...)

Housing

France's Tikehau Capital buys a €160m French residential portfolio from Covivio

According to BI sources, Tikehau Capital has just finalized the acquisition, for approximately €160m, of a 500 lots residential portfolio from Paris-based REIT/SIIC Covivio. (...)

Hospitality

"Covivio is now present in 12 countries and we intend to consolidate our position in Europe"

Having recently acquired a €620m pan-European hotel portfolio, Paris-based REIT/SIIC Covivio holds €6.9bn in hospitality assets (out of the €24bn assets held by the (...)

Office

French Covivio in portfolio adjustments worth €162m in Italy

French REIT/SIIC Covivio, in end-year portfolio adjustments worth €162m, has signed, in the fourth quarter 2019, agreements for the disposal of six office buildings (...)

Hospitality

French Covivio acquires a pan-European hotel portfolio for €620m

Paris-based REIT/SIIC Covivio has signed an agreement to acquire, through its Covivio Hotels unit, a pan-European portfolio of eight hotels for €573m (including works), (...)

Listed

Covivio's Beaudemoulin named new CEO of Germany's ADO Properties

The complex merger transaction between ADO Properties and Adler Real Estate has brought deep changes in the boards of ADO, with Covivio executive Thierry Beaudemoulin named new CEO. Five (...)

Listed

German ADO, Adler merger includes Consus to create €8.6bn residential listed giant

Germany is to get a new listed housing giant after Berlin's ADO Properties launched an agreed €708m bid for Adler Real Estate, also including Consus, to (...)

Hospitality

Blackstone enters Greek hospitality, acquiring five hotels for €179m

US giant Blackstone is entering Greek hospitality with the acquisition of five hotels on the Greek Islands from Cyprus-based Louis Group for an enterprise (...)

Office

France's Primonial adds 20,000 sqm Saint Denis office complex for €167m

Paris manager Primonial REIM has acquired the 20,000 sqm Green Corner office complex in Saint Denis, a northern suburb of Paris, from REIT/SIIC Covivio for a (...)

Housing

Berlin tops 2018 resi investment at €3.11bn, then Copenhagen, Paris, London - JLL

German capital Berlin attracted most multifamily investment last year, at €3.11bn, says JLL's European Multifamily Investment Report - followed by Copenhagen, Paris and London. The (...)

Listed

French Covivio 1H AUM up 2.8%; on track for full year despite lower net

Paris-based REIT/SIIC Covivio's portfolio value rose 2.8% in the first half and, despite lower net income at €355m, said it is well on its way to (...)

Hospitality

“Covivio has acquired a stake in 32 Accor hotels with significant value creation potential”

Business Immo: What does Covivio Hotels unit represent today? Dominique Ozanne: Today, Covivio's hotel business represents €6bn in assets, representing around 15% of our revenues. This activity (...)

Housing

Common approach not expropriation fantasies needed to solve Berlin's housing shortage

The initiative Expropriate German Housing & Combat Speculation aims to expropriate private homeowners with more than 3,000 apartments in Berlin. On the agenda are (...)

Listed

French Covivio 1Q pre-letting at 86%, revenue up 13.5% to €166m

Covivio, one of France's largest listed property groups, reported a first quarter average pre-letting of 86% on project deliveries, to €325m, while revenue rose (...)

Office

French Covivio sells €264m Italian office portfolio at exit yield of 4.9%

The French Covivio group is selling a portfolio of Italian offices for €263.5m at a net exit yield of 4.9% which include 10 assets in Milan, (...)

Finance

New actors on the European stage

“When it comes to equity, European real estate is like a busy nightclub – as soon as one group leaves, another seems to be (...)

Listed

France's REIT association elects Maryse Aulagnon as president

France's REIT/SIIC association FSIF has elected Maryse Aulagnon, founder of the Affine group, as president in succession to Covivio CEO Christophe Kullmann. FSIF (Fédération des Sociétés Immobilières et Foncières) represents around 35 real estate investment trusts that (...)

Listed

French Covivio boosts 2018 EPRA earnings 6.4% to €381m, 4.5% per shr

Giant French REIT/SIIC Covivio boosted 2018 EPRA earnings 6.4%yy to €381m group share, and 4.5% to €5.08 per share, exceeding guidance of 3%. In its results release, the firm (...)

Finance

Philippe Le Trung joins iread as senior advisor

Philippe Le Trung has joined iread as a senior advisor, responsible for developing Europe-wide expertise in the listed real estate sector. Philippe Le Trung, aged (...)

Hospitality

French Covivio completes disposal of non-strategic assets worth €482m

French REIT/SIIC Covivio has announced the sign-off of disposals worth €482m relating to budget hotels and retail assets. In a release, the Paris-based group said (...)

Office

BNP Paribas REIM buys 18,630 sqm office in Paris Chatillon-Montrouge

BNP Paribas REIM has acquired Le Carat 1, a two-building 18,630 sqm complex in the office district of the Chatillon-Montrouge in the south of Paris just outside (...)

Listed

French Covivio in portfolio adjustments worth €341m in Italy, Paris

French REIT/SIIC Covivio, in end-year portfolio adjustments worth €341m, has sold two offices and a retail property in Italy and acquired an office project in (...)

Office

France's Simi 2018 trade fair marks dawn of a new era

A few hours after the clapper board sounded the end of the 2018 edition of Simi, the French real estate community's annual trade fair, (...)

Finance

Italy's Generali aims to grow €30bn property AUM, 3rd-party funds - Mazzocco

Italy's Generali Real Estate aims to add €5bn to its €30bn in property assets over the next three years while significantly growing its fund (...)

Office

Spain’s Colonial looks forward to organic growth after busy 2018

Spanish office REIT/SOCIMI Colonial, after a takeover and a readjustment of capital this year, is looking ahead to delivering organic growth with a rise (...)

Office

Milan office in huge demand as occupier needs change fast

Supply of modern Grade A office real estate in Italy's business centre Milan is tighter than ever, but tracking shifting occupier needs is the (...)

Hospitality

Covivio Hotels targets seven Euro cities, profit over 30%, best use

French REIT/SIIC Covivio has pared hotel holdings to 400 and now targets seven European cities, operating profit of over 30% and cooperation with operators (...)

Listed

French Covivio ready to grow France/Italy office, Euro hotels, German resi

French REIT/SIIC Covivio, the renamed Foncière des Régions in the process of simplifying its structure, aims to expand in three focus segments, France/Italy office, (...)

Housing

Foreign ownership in French housing is no cause for concern

The participation of Germany's Vonovia and Zurich's Swiss Life in the winning bid for French SNCF's housing portfolio is good for Europe, good for France – (...)

Hospitality

European hotels eye doubled global middle class in 20 years - EPRA

European hotel investment has gone from a small sector to a mega-industry and, with the global middle class expected to double in 20 years, (...)

Office

Italy's Generali paid €200m for Paris, Brussels office assets - BIE sources

Italy's Generali Real Estate, part of the giant Trieste-based insurance group, invested around €200m to acquire a two-asset portfolio in Paris and Brussels from GLL Real (...)

Listed

After 1H rebranding, €1.7bn acquisitions, Covivio still has strong ambitions - Kullmann

French REIT/SIIC Covivio has had an eventful 2018 thus far, assuming a new identity and making a major move into the British hotel sector. Long-time CEO (...)

Hospitality

French Covivio unit closes €300m capital raise to finance UK hotel buy

French hotel REIT Foncière des Murs, a unit of the Covivio group, has completed a capital increase to raise €300m and support the group's £858m (€976m) acquisition (...)

Retail

French Immochan is second in week to change name, rebranding as Ceetrus

A second French property firm in a week has announced a change of name. Immochan, the manager and owner of shopping centres anchored by (...)

Listed

French Foncière des Régions renames as Covivio to reflect European reach

One of France's largest REIT/SIICs, Foncière des Régions managing €21bn in office, residential and hotel property, is changing its name to Covivio to reflect its truly (...)

Listed

French FdR in merger offer for Italy's Beni Stabili; to change name

Giant French REIT/SIIC Foncière des Régions is in talks with Italy's Beni Stabili, its 52.4%-owned Italian office unit, to merge the latter into the group on the (...)

Listed

Austria's Immofinanz rejects unsolicited US Starwood offer at €2.10 shr

Austria's listed property group Immofinanz has rejected an unsolicited partial offer for a 5% stake made by the US-based Starwood Capital group in parallel to a bid for (...)

Hospitality

French Foncière des Régions confirms talks to buy 14 British 4/5-Star hotels

Diversified French REIT/SIIC Foncière des Régions has confirmed it is in talks to acquire a portfolio of 14 British hotels from the US-based Starwood Capital group. The portfolio (...)

Finance

French Foncière des Régions boosts 2017 net 10% to €391m, sees favourable 2018

Diversified French REIT/SIIC Foncière des Régions last year raised net recurring income by 10% to €391m, and will propose a 2.3% dividend increase to (...)

Retail

Foncière des Regions signs €290m of non-strategic French retail disposals

France's third largest REIT/SIIC by assets, Foncière des Régions, has signed agreements to sell of nearly €290m of non-core properties, French retail, aiming to strengthen (...)

Finance

Inclusion of real estate in Italian individual savings should benefit REITs - Coima

The Italian 2018 budget's inclusion of real estate in PIR individual saving plans should bring more private capital into the sector and ultimately benefit (...)

Housing

Companies need to adapt as Europe enters new property cycle

Europe is entering a new property cycle after two decades of rises interrupted by the GFC, and client demands are shifting, says Paris-based consultancy ViewS+S. (...)