Covivio sells Nanterre office property for €83m

French listed property giant Covivio has sold the Respiro office complex in Nanterre, France to two SCPI funds managed by Atland-Voisin and My Share Company for €83 mln.

Covivio bought the asset in 2013 and has since completely restructured it for the tenant, Vinci Construction France, which occupies it on a firm 10-year lease. The property provides 11,173 m2 of space and holds dual certification: NF HQETM Very good and BREEAM Excellent.

The sale is part of Covivio’s €600 mln disposal strategy for mature core assets for 2020. The company has agreed €369 mln of sales since the start of the year, including €157 mln in agreements signed since mid-March. For the most part, these sales involve office properties in France and Italy.

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