Quai 8.2 in Bordeaux : evolution of the Icade-Covivio partnership

Pursuant to the agreements signed in 2017, Icade and Covivio exited their Quai 8.2 co development project on January 18, 2022 by exchanging their respective interests in two assets, namely Orianz and FactorE in Bordeaux-Euratlantique.

This transaction has resulted in Icade acquiring 100% of Orianz and Covivio 100% of FactorE.

Completed in 2018, both these office buildings are ideally located in Armagnac Quai 8.2. This mixed-use neighbourhood close to the Bordeaux Saint-Jean high-speed train (TGV) station is an integral part of the Bordeaux-Euratlantique urban renewal project.

Icade now fully owns the nearly 20,800-sq.m Orianz building which has an occupancy rate of over 97%. Its first-rate tenants include Orange and Allianz VIE whose leases have a remaining term of close to five years. In parallel, Covivio has become the sole owner of the 10,900 sq.m FactorE building. Fully occupied, its tenants include Spaces and Thermo Fisher Scientific whose leases have a remaining term of close to six years.