Covivio sells €167m Saint-Denis office complex to Primonial

French REIT Covivio has sold the Green Corner building in Saint-Denis to the north of Paris to Primonial for a total of €167 mln.

The 20,800 m2 office building was developed and delivered by Covivio in 2015. Designed by the Thual & Agathon and Quadriflore agencies, the asset is located at the foot of the RER B train line, and is fully occupied by the Haute Autorité de Santé (HAS), Systra, and the consulting firm Talan.

Green Corner has dual environmentally-sustainable certification, HQE Excellent and Breeam Very Good, as well as BBC-effinergie labelling.

The transaction is part of Covivio's strategy to dispose of mature or non-core assets. 'These disposals enable Covivio to invest in new generation buildings that benefit from the best locations at the heart of European cities,' the company said in a statement.

Wargny Katz, BNP Paribas Real Estate and Stratégies and Corp advised Covivio in this transaction.


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