Covivio has sold Respiro, an 11,173m² property in Nanterre, to two SCPI funds managed by Atland-Voisin and My Share Company for €83m. The property, which is located in Nanterre and was acquired by Covivio in 2013, underwent a complete refurbishment so it could accommodate a subsidiary of Vinci Construction France in 2015. Respiro holds dual certification: NF HQETM “Very good” and BREEAM® “Excellent”. It also has a BBC-effinergie label.
Since the start of this year, Covivio has signed disposals and agreements for disposals generating €369m, including €157m in agreements signed since mid-March. For the most part, these sales apply to office properties in France and Italy. With this transaction, the company is pursuing its arbitrage strategy for mature core assets, supported by its dynamic Asset Management approach. Covivio is therefore confident that it will achieve its objective of generating more than €600m group share in new agreements for disposals in 2020.