Highlights

Real estate and financial information

  • Covivio delivered the first phase of the Symbiosis project in Milan: 20,500 m² of office space and services, 86% pre-let, notably to Fastweb Covivio has already launched the second phase of construction with a new office building of 9,400 m² already 97% let to Ludum, an international school.
  • Covivio launched the Alexanderplatz project in Berlin, intended to develop, in collaboration with the city of Berlin, a high-rise mixed-use building of 60,000 m² which will provide 26,700 m² of office space, 21,900 m² of retail space and 11,400 m² of housing.
  • Covivio acquired an iconic portfolio of 12 four- and five-star hotels located in major cities in the United Kingdom for €895 million and inaugurated a new partnership with InterContinental Hotels Group (IHG).
  • Covivio inaugurated the first Motel One hotel in France in Paris (12th arrondissement).
  • Covivio and Group ADP launched Belaïa, a second office building in the Cœur d’Orly business district with a total of 23,500 m² (21,200 m² of office space, 1,300 m² of multi-company restaurants and 1,000 m² of retail space on the ground floor).
  • Covivio acquired a 25,600 m² building on a VEFA basis (pre-construction) located in the Malakoff-Montrouge-Châtillon business district.
  • Covivio disposed of a portfolio of non-strategic assets in Italy, including the Excelsior building in Milan, and two office buildings in Turin.
  • A year after the launch of its pro-working business, Wellio has four sites in France, with over 12,000 m² of space and services.

Corporate

  • Foncière des Régions became Covivio in May 2018. This new identity reflects the company’s transformation into a 360° European real estate operator.
  • Covivio completed the merger-absorption of its Italian subsidiary Beni Stabili, a key step in simplifying the group’s organisation. All the teams and activities have now been combined under a single European banner.
  • Covivio confirmed its position as the leading property company in terms of CSR. It received the “Grand Prix AGEFI 2018 for Corporate Governance”, the “Grand Prix spécial du jury” at the Grands Prix de l’Assemblée Générale 2018, and the Grand Prix for the “Best extra-financial performance declaration, environmental section” at the “Entreprises et Environnement 2018” awards.

Real estate and financial information

  • Success for development operations, leased at 98% from their year of delivery : 12 operations representing almost 89,000 m² of offices in France and Italy and 680 rooms in Europe.
  • Foncière des Régions launches its flexible/co-working office offer and opens its 1st site in Marseille.
  • Foncière des Régions launches the Silex² programme in Lyon Part-Dieu, in partnership with Assurances du Crédit Mutuel, following the rental success of the Silex1 operation,fully leased during its delivery year.
  • Foncière des Régions accelerates its European hotel development with the acquisition of 17 hotels in Spain, and reinforces its partnerships with NH Hotel Group and B&B Hotels.
  • Reinforcement in major European cities : €1.8bn in secured investments in Paris, Berlin, Milan, Barcelona and Madrid.
  • Foncière des Régions continues to refocus with asset disposals of nearly €1.4 bn in 2017.
  • Foncière des Régions simplifies its structure and completes the merger of its hotel investment entities, Foncière des Murs and FDM Management.

Corporate

  • Foncière des Régions praised by employees – the Group’s second commitment barometer is published with exceptional results.
  • Foncière des Régions launchesEx-Aequo, a European programme to promote gender equality within the Group.
  • “Ctrl+alt+desk, reprogram your desk!”: Foncière des Régions launches a hackathon on the desk of the future, together with its major partners Orange and IBM.

France Offices

  • Delivery of six buildings with 46,700m² of floor space, 94% of which isalready let for 9 years on average;
  • 43,000m² of new leases signed on new assets or assets under construction including the EDO building at Issy-les-Moulineaux, wholly let to the Transdev Group;
  • €160M of acquisitions in the Greater Paris area, at 7.8% yield, offering great potential for future redevelopment;
  • Renegotiation of leases on 450,000m² of property including two major lease deals with partners Orange and EDF;
  • 65% green portfolio rate.

Italy Offices

  • Expansion in Milan and improvements in the quality of the portfoliowith the acquisition of 41,000m² for €111M;
  • Diversification of leasing base: sharing 40% of Telecom Italia’s portfolio,representing €1.6Bn;
  • Strong leasing activity with 62,000m² newly let, including the 1st lease on the Symbiosis project with Fastweb.

Germany Residential

  • €406M of acquisitions, nearly 70% in Berlin;
  • Accelerating rent growth on a like-for-like basis of 3.6%, including 4.6% in Berlin;
  • Launch of a €200M development pipeline: 1,100 units with 70,000m² in Berlin, of which 1/3 was launched in 2017.

Hostels in Europe

  • Increased exposure to Europe’s big cities: €1.2Bn invested in hotels in leased properties or business & premises;
  • Doubling of the development pipeline to €261M, 2,030 rooms, with longstanding partners (B&B Hotels) or new ones (Meininger, Motel One) in strategic locations (Paris, Lyon, Berlin, Munich, etc.);
  • 17 hotel operators as partners: three times more than in 2014.

Other 2016 highlights

  • Appointment of two women as members of the Board of Directors, taking women’s representation to 40% a year ahead of the legal deadline;
  • Creation of an Innovation Department and announcement of a partnership with start-up incubator Immowell Lab;
  • Success of the first Green Bond issue, for €500M with 10-year maturity;
  • Carré Suffren: first BiodiverCity© certified building opens.

Opérations financières et immobilières

  • Foncière des Régions livre huit opérations pour plus de 100 000 m² : Astrolabe (Euromed Center) à Marseille, Steel à Paris, Respiro à Nanterre, Quatuor à Lille-Roubaix, Green Corner à Saint-Denis, Campus Eiffageà Vélizy-Villacoublay, ErDF à Avignon et Askia (Cœur d’Orly) à Orly.
  • Foncière des Régions accélère sa stratégie de création de valeur en Italie : elle renforce son partenariat avec Telecom Italia et renouvelle les baux pour 15 ans fermes, acquiert deux immeubles de bureaux à redévelopper dans le centre de Milan. Christophe Kullmann devient Directeur Général de Beni Stabili.
  • Foncière des Régions réalise 400 M€d’investissements en Hôtellerie. Elle renforce ainsi ses partenariats avec les grandes enseignes hôtelières comme B&B Hôtels, en accompagnant le groupe dans son développement européen, ou en initiant de nouveaux partenariats avec les opérateurs européens Motel One et MEININGER.
  • Foncière des Régions et AccorHotels poursuivent et renforcent leur partenariat immobilier initié il y a plus de 10 ans en renouvelant des accords locatifs de 80 hôtels pour une nouvelle durée ferme de 12 années.
  • Foncière des Régions, via sa filiale FDM Management, finalise une levée de fonds de 172 M€.
  • Foncière des Régions annonce l’acquisition de14,6% du capital de sa filiale Foncière des Murs.
  • Foncière des Régions investit plus de 870 M€dans le Résidentiel allemand en renforçant sa présence dans les villes dynamiques de Berlin et Hambourg.

Gouvernance et corporate

  • Foncière des Régions publie son étude « Economie de partage et espace de travail – le regard des salariés européens ».

Performance et récompense

  • L’agence S&P relève la notation financière de Foncière des Régions à BBB, perspective Stable.
  • Foncière des Régions est reconnue comme l’une des références mondiales pour ses actions contre le changement climatique. Elle intègre la « Climate A List » du Carbon Disclosure Project, avec une note de 99A, et se place dans le Top 5 France, tous secteurs confondus.
  • Foncière des Régions se distingue avec trois prix venant récompenser sa stratégie immobilière : le Trophée SIATI 2015 de la « Meilleure Foncière », le Trophée SIATI 2015 de la « Meilleure stratégie d’investissement en immobilier hôtelier » et le Prix d’honneur Tourinvest Forum 2015.
  • Le Document de référence 2014 et le Rapport développement durable 2014, se hissent une nouvelle fois en tête du classement européen en recevant deux EPRA Gold Awards.
  • Foncière des Régions and Crédit Agricole Assurances deliver the New Vélizy’campus to Thales, 46,000 sqm in the centreof the Vélizy-Meudon area. This flagship project won the SIIC Trophy in the “Ville & Avenir”category.
  • Creation of an investment partnership,called “FDM Management”, to acquire hotels (premises and business assets) run by major operators in the sector: first transactions in France and Germany.
  • Foncière des Régions is pursuing itsstrategy in German Residential with the acquisition of residential portfolios in Berlin, Dresden and Leipzig, for €400 million.
  • Foncière des Régions publishes its annual study: Office property and the attractionof French metropolises, conducted with approximately 1,000 employees and 500 directors of companies with more than 250 employees.
  • Foncière des Régions, via itssubsidiary Foncière des Murs, announces new strategic and structural partnerships with European Hotel leaders Meininger and NH Hôtel.
  • Announcement of a new tenant partnership for Foncière des Régions with the acquisition of the “Liberté et Coupole”complex from Natixis in Charenton-le-Pont.
  • Foncière des Régions receives two EPRA Gold Awards for the quality of itsfinancial reporting (2013 ReferenceDocument) and extra-financial reporting (2013 Sustainable Development Report).
  • Foncière des Régions successfully completed a bond placement for the amount of €500 million worth of seven-year, topursuit itsstrategy of diversifying itssources of financing, lowering debt costs and extending debt maturity.
  • Foncière des Régions and Demathieu & Bard Immobilier are developing the future Bose France headquarters in St-Germain-en-Laye.
  • Launch ofthe Golden Tulip hotel within the new Euromed Center mixed use complex in Marseille.
  • Foncière des Régions steps up itsstrategic refocusing with the disposal of almost 60% of itslogistics assets, for €473 million.
  • In partnership with Crédit Agricole Assurances, Foncière des Régions acquired the future Campus Eiffage, a new 24,000 sqm building designed by Jean-Michel Wilmotte.
  • Launch of Cœur d’Orly, one of the major Grand Paris urban projects, with construction of “Askia”, an initial building with 18,500 sqm of office space, which is 50% pre-leased.
  • Launch of the Green Corner project in St-Denis, 70% leased to the Haute Autorité de Santé, with a delivery date set for the end of 2015.
  • Foncière des Régions and B&B Hôtels signed a partnership agreement for the development of nine new hotels in Germany over the next three years.
  • Euromed Center: Louvre Hôtel decided to install a four-star Golden Tulip hotel in the Marseille complex to be underwritten by Foncière des Régions and Crédit Agricole Assurances.
  • Foncière des Régions increased its stake in its subsidiary Foncière Développement Logements and bolstered its position in the German residential market. This represents an investment of nearly €1 billion.
  • Foncière des Régions was awarded for the quality of its financial reporting through the EPRA Award Gold for its 2012 Reference Document, and for extra-financial reporting, earning the EPRA Award Silver for its 2012 Sustainable Development Report.
  • Foncière des Régions was included in four of the NYSE Euronext –Vigeo indices: “France 20”, “Eurozone 120”, “Europe 120” and “World 120”.
  • Foncière des Régions successfully carried out a new ORNANE issue for €345 million and completed a private bond placement for the amount of €180 million.