• Covivio buys Accor package

Covivio, formerly FdR, has bought a EUR176m stake in a 32 hotel European portfolio. The largely French properties are all leased to AccorInvest, under Mercure, Novotel, Ibis and Ibis Budget flags.

The 32% stake was sold by AXA Investment Managers – Real Assets. Covivio will manage the properties, which are jointly owned by Caisse des Depots and Societe Generale Assurances.

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