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Covivio to acquire Godewind AG

The company is continuing its public purchase operation launched last month on the company operating in the rental of office and residential real estate, for an amount of 718 million euros.

Announced in mid-February, this acquisition will enable Covivio to have a portfolio consisting of 60% office property. More precisely, more than half (57%) of Godewind AG's portfolio is made up of office space spread across France, Italy and Germany and leased to companies such as Orange, Suez and Vinci. Around a quarter of this portfolio also contains housing units on the German market.

However, the real estate company announces that :

Given this environment and the uncertainty weighing on our hotel revenues, we will communicate an adjusted earnings guidance at the time of publication of our half-year results.

As a reminder, with the acquisition of Godewind Immobilien AG, Covivio could reach the critical size of 2.1 billion euros of assets in the German office real estate market.

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