Covivio

Last updated
Covivio
Type Real estate investment trust
Euronext:  COV
CAC Mid 60 Component
Industry Commercial Real Estate
Residential Real Estate
Founded2000
Headquarters Metz, France
Key people
Christophe Kullmann (CEO)
Jean-Luc Biamonti(Chairman)
Olivier Estève (Deputy CEO)
Revenue968 M€ (2022)
Number of employees
1054
Divisions Covivio Hotels / Covivio Immobilien / Covivio SGP
Website www.covivio.eu/en/

Covivio is a French property management company [1] founded in 1998. Its activities are divided between the office property sector (54%), the residential sector (30%) and the hotel sector (16%) [2] .

Contents

Covivio's assets are valued at €24.8 billion [3] [4] [5] .

Covivio was born in 2018 [6] . It is the new name of Foncière des Régions [7] , which was created in France in the early 2000s. The Covivio identity brings together all the group's activities in Europe [8]  :

Finally, in 2017, Covivio created Wellio, an offer dedicated to flexible offices and coworking.

History

Foncière des Régions [10] was created in 1998 in Metz, initially with the property and workers' housing assets of the Usinor group, which was refocusing on its steel business.

In 2002, the company continued to invest in housing, taking over 4,000 homes from the Commissariat à l'énergie atomique through its Sovakle subsidiary. But it is also diversifying its investments. In 2004, Foncière des Régions took control of another listed property company, Bail Investissement, which owns a significant portfolio of offices and logistics platforms. Another subsidiary, Foncière des Murs, acquired 22 retirement homes from the Suren group [11] , followed by 128 hotel properties from the AccorHotels group.

In 2018, Foncière des Régions became Covivio.

Activities and areas of expertise

Office property and co-working

Covivio's office portfolio in France will account for 31% of its total portfolio by the end of 2022. Covivio designs new or restructured office projects in the Greater Paris area and in major regional cities such as Lyon, Bordeaux, Marseille and Montpellier.

In 2022, the Group delivered 3 buildings in Paris:

In Italy, Covivio is concentrating its investments on the office market in Milan, which accounts for 15% of its total portfolio. In Milan, Covivio is developing a number of projects, including :

Covivio is developing co-working with its subsidiary Wellio, created in 2017. At the beginning of 2023, nine sites were open (4 in Paris and 1 in Marseille, 1 in Bordeaux, 1 in Lyon and 2 in Milan) totalling more than 35,000 m².

Hotel infrastructure with Covivio Hotels

The Hotels business will account for 16% of the Group's assets by the end of 2022. Covivio has forged partnerships with hotel groups in Europe and supports them in their leasing, ownership and fund or development projects. It owns €6.7 billion in hotel assets (323 hotels in 12 European countries) and works with 16 hotel operators and 30 brands, including AccorHotels, B&B HOTELS, IHG, Marriott, Radisson, NH Hotel Group, Motel One, Meininger, etc. Ho

Residential accommodation in Germany

In Germany, Covivio owns 41,300 homes, including coliving units, in cities such as Berlin, Dresden, Hamburg, Leipzig and the Ruhr region.

In France, Covivio is speeding up the transformation of its obsolete offices into multi-use accommodation.

Sites in Europe

Covivio is a European group based predominantly in France, Germany, Italy, the United Kingdom and Spain. [20]

Management

See also

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References

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