PRESS RELEASE
Paris, January 24, 2022
- NEW STEP IN THE ICADE-COVIVIO PARTNERSHIP ON THE QUAI 8.2 PROJECT IN BORDEAUX
In accordance with the agreements signed in 2017, Icade and Covivio exited their Quai 8.2 co-development project on 18 January 2022 by exchanging their respective stakes in two assets, namely Orianz and FactorE in Bordeaux-Euratlantique.
This operation led Icade to acquire 100% of Orianz and Covivio 100% of FactorE.
Completed in 2018, these two office buildings are ideally located at Armagnac Quai 8.2. This mixed neighborhood near the Bordeaux Saint-Jean TGV station is an integral part of the Bordeaux-Euratlantique urban renewal project.
Icade now has full ownership of the Orianz building of nearly 20,800 m², which has an occupancy rate of over 97%. Its prime tenants include Orange and Allianz VIE, whose leases have a residual term of nearly five years. At the same time, Covivio became the sole owner of the 10,900 m² FactorE building. Fully occupied, its tenants include Spaces and Thermo Fisher Scientific whose leases have a residual term of nearly six years.
ABOUT ICADE
DESIRABLE LIVING PLACES
Office and healthcare property company (portfolio of €14.8 billion fully consolidated as of 06/30/2021) and developer of housing, offices and public facilities (2020 revenue of €825 million), Icade designs, builds, manages and invests in innovative, diverse, inclusive and connected cities, neighborhoods and buildings with a reduced carbon footprint. Sought-after places to live and work. In collaboration with its stakeholders, Icade has made low carbon a strategic priority to reinvent real estate and create healthier, happier and more hospitable cities. Icade is a key player in Greater Paris and major French cities. It is listed “SIIC” on Euronext Paris and its reference shareholder is the Caisse des Dépôts group.
The text of this press release is available on Icade’s website: www.icade.fr
WHO TO CONTACT AT ICADE
Charlotte Pajaud BlanchardPress Relations Manager +33 (0)1 41 57 71 19 [email protected]
Anne-Sophie Lanaute
Head of Financial Communication and Investor Relations +33 (0)1 41 57 70 29 [email protected]
WHO TO CONTACT AT COVIVIO
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Media Relations |
Investor Relations |
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Geraldine Lemoine |
Paul Arkwright |
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Tel: +33 (0)1 58 97 51 00 |
Tel: +33 (0)1 58 97 51 |
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Louise-Marie Guinet |
Quentin Drumare |
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Tel: +33 (0)1 43 26 73 56 |
Tel: +33 (0)1 58 97 51 |
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ABOUT COVIVIO
Backed by its partnership history, its real estate expertise and its European culture, Covivio is inventing the user experience of today and designing the city of tomorrow.
A leading real estate player at European level, Covivio is close to its end users, captures their aspirations, combines work, travel, living, and co-invents living spaces.
A reference in the European real estate market with €26 billion in assets, Covivio supports companies, hotel brands and regions in their quest for attractiveness, transformation and responsible performance. Building lasting relationships and well-being is Covivio’s Purpose, which expresses its role as a responsible real estate operator with all its stakeholders: customers, shareholders and financial partners, internal teams, local authorities, but also to future generations and the planet. In addition, his lively and dynamic approach opens up exciting project and career prospects for his teams.
Warning
Icade S.A. published this content on January 24, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on January 24, 2022 5:03:04 PM UTC.
Public now 2022
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ICADE Technical Analysis Trends
| Short term | Middle term | Long term | |
| Tendencies | Bullish | Bearish | Neutral |
Evolution of the income statement
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To sell  To buy |
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| Medium consensus | SURPASS |
| Number of analysts | 12 |
| Last closing price |
€64.40 |
| Average target price |
€76.88 |
| Average Spread / Target | 19.4% |
| 1 Jan | capi. ($M) | ||
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ICADE | 2.06% | 5,529 |
