Clearwater has advised Covivio on the sale of its stake in the Eiffage Campus to Crédit Agricole Assurances.
Located in the Vélizy-Meudon business district, Eiffage Campus was acquired in 2019 and expanded in 2013 and has since been an integral part of the Paris-Saclay science and technology cluster. The 33,000-square-metre Eiffage Campus is certified by NF Bâtiments tertiaires, HQE, BREEAM and the Effinergie label.
Covivio has been active in this leading tertiary district since 2003, deploying a strategy of turnkey rental campuses for major accounts, including Dassault Systèmes and Thalès.
With this transaction, Covivio has signed new sales of €880m since the beginning of the year, exceeding its target of over €600m for 2021. Achieved with an average margin of over 3.4% on the latest appraisal values, this success reflects the attractiveness of investors for quality office buildings.
