Covivio sells the Green Corner building in Saint-Denis

Covivio announces the disposal of the Green Corner building in Saint-Denis to Primonial, in a transaction that enables the group to continue its strategy to dispose of mature assets.

Located in Saint-Denis (North of Paris), this 20,800 m² office building was developed and delivered by Covivio in 2015. Today, the group is selling this asset for €167 M.

Designed by the Thual & Agathon and Quadriflore agencies and ideally located at the foot of the RER B train line, the Green Corner building is occupied by the Haute Autorité de Santé (HAS), Systra, and the consulting firm Talan. It provides users with over 3,000 m² in office floors, vast terraces and landscaped areas along with a full range of services (catering, pooled meeting rooms, parking places and bicycle parks with convenience stores at the foot of the building).

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

As a reminder, Covivio identified the real estate site in Saint-Denis on which Green Corner was developed in 2013. Thanks to its real estate qualities and location, the project posted a pre-commercialisation rate of 67% when work started. Today sold fully let, Green Corner illustrates the value creation strategy – here 100% – carried by Covivio.

The group dynamically manages its portfolio by disposing of mature or non-core assets. These disposals enable Covivio to invest and design new generation buildings that benefit from the best locations at the heart of European cities.

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

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