Covivio finalizes joint venture with Blue Owl Capital for Thales sites
Covivio and real estate funds managed by Blue Owl Capital have announced the closing of their joint venture, which now holds three Thales sites located in Vélizy-Meudon, following the investment agreement signed last January.
As of April 1, 2026, these three assets—previously held by Covivio (in partnership with Crédit Agricole Assurances for the Hélios 1 site)—are now owned 51% by Covivio and 49% by real estate funds managed by Blue Owl Capital.
Located at the heart of the world-class Paris-Saclay innovation hub, these sites represent Thales' largest global footprint, designed to accommodate nearly 6,000 employees across more than 126,000 sqm.
The transaction values the entire complex at 503 million euros. For Covivio, the deal represents the equivalent of 138 million euros in group-share sales and contributes to the rebalancing of its portfolio toward the hospitality sector.
Thanks to its partnering history, its real estate expertise and its European culture, Covivio is inventing today's user experience and designing tomorrow's city.
A preferred real estate player at the European level, Covivio is close to its end users, capturing their aspirations, combining work, travel, living, and co-inventing vibrant spaces.
A benchmark in the European real estate market with EUR 23.7 billion in assets, Covivio offers support to companies, hotel brands and territories in their pursuit for attractiveness, transformation and responsible performance.
Its living, dynamic approach opens up exciting project and career prospects for its teams.
This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of rankings based on the following ratings: Returns (Composite), Profitability (Composite) and Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully read the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
