CDC GPI - Gestion Des Placements Immobiliers agreed to acquire 49% stake in Residential portfolio in the centre of Berlin from Covivio Immobilien GmbH and Covivio (ENXTPA:COV) on April 23, 2024. CDC acquire stake 39% from Covivio Immobilien, a subsidiary owned by Covivio at 61.7%, and 10% from Covivio. This transaction was signed on the basis of a portfolio valuation of ?274m, in line with the appraisal values at the end of December 2023.

The mortgage financing backed by the portfolio will remain in place. Closing of the transaction is scheduled for Second quarter of 2024.