Covivio Reports Strategic Advancements in Q1 2026

In Q1 2026, Covivio reported robust operational progress fueled by strategic acquisitions and strong revenue growth. The completion of Blue Owl’s investment in the Thales joint venture resulted in 138 million euros in disposal proceeds. Meanwhile, Covivio acquired four leased hotels in Milan for 217 million euros, aiming for a 7% yield.

Revenues increased by 2.5% year-on-year, reaching 166 million euros group share. The office sector saw a 2.1% rise in rents, while German residential properties achieved a like-for-like growth of 3.6%. High rental visibility is supported by a 97% occupancy rate and a firm lease term average of 6.3 years.

S&P reaffirmed Covivio's BBB+ rating, noting the company’s solid operational and financial profile. The LTV ratio was 38.9%, adhering to the group's policy, with 86% of debt hedged against interest rate rises.

Covivio is also advancing its carbon reduction goals, achieving a 31% reduction by 2025 compared to 2010 and aiming for 40% by 2030. ESG ratings remain high with awards from agencies like MSCI and GRESB.