Covivio sells the Green Corner building in Saint-Denis
Covivio announces the disposal of the Green Corner building in Saint-Denis to
Primonial, in a transaction that enables the group to continue its strategy to
dispose of mature assets.
Located in Saint-Denis (North of Paris), this 20,800 m2 office building was
developed and delivered by Covivio in 2015. Today, the group is selling this
asset for EUR167 M.
Designed by the Thual & Agathon and Quadriflore agencies and ideally located at
the foot of the RER B train line, the Green Corner building is occupied by the
Haute Autorité de Santé (HAS), Systra, and the consulting firm Talan. It
provides users with over 3,000 m2 in office floors, vast terraces and
landscaped areas along with a full range of services (catering, pooled meeting
rooms, parking places and bicycle parks with convenience stores at the foot of
Green Corner has dual certification, HQE Excellent and Breeam Very Good, as
well as BBC-effinergie labelling.
As a reminder, Covivio identified the real estate site in Saint-Denis on which
Green Corner was developed in 2013. Thanks to its real estate qualities and
location, the project posted a pre- commercialisation rate of 67% when work
started. Today sold fully let, Green Corner illustrates the value creation
strategy - here 100% - carried by Covivio.
The group dynamically manages its portfolio by disposing of mature or non-core
assets. These disposals enable Covivio to invest and design new generation
buildings that benefit from the best locations at the heart of European
Wargny Katz, BNP Paribas Real Estate and Stratégies and Corp advised Covivio
in this transaction.
Thanks to its partnering history, its real estate expertise and its European
culture, Covivio is inventing today's user experience and designing tomorrow's
A preferred real estate player at the European level, Covivio is close to its
end users, capturing their aspirations, combining work, travel, living, and
co-inventing vibrant spaces.
A benchmark in the European real estate market with 23 BnEUR in assets, Covivio
offers support to companies, hotel brands and territories in their pursuit for
attractiveness, transformation and responsible performance.
Its living, dynamic approach opens up exciting project and career prospects for
Covivio's shares are listed in the Euronext Paris A compartment (FR0000064578 -
COV) and on the MTA market (Mercato Telematico Azionario) of the Milan stock
exchange, are admitted to trading on the SRD, and are included in the
composition of the MSCI, SBF 120, Euronext IEIF "SIIC France" and CAC Mid100
indices, in the "EPRA" and "GPR 250" benchmark European real estate indices,
EPRA BPRs Gold Awards (financial + Sustainability), CDP (A), Green Star GRESB
and in the ESG FTSE4 Good, DJSI World & Europe, Euronext Vigeo (World 120,
Eurozone 120, Europe 120 and France 20), Euronext(r) CDP Environment France EW,
Oekom, Ethibel, Sustainalytics and Gaïa ethical indices.
Covivio is rated BBB+/Stable outlook by Standard and Poor's.
Financial part: BBB+ / Stable outlook by Standard and Poor's
Extra-financial part: A1+ by Vigeo-Eiris
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