What if the Covid gave a boost to the transformation of offices into homes.
The subject is not new, but the tornado that hit the office market in 2020 (take-up declined by 45% according to Immostat) gives it an unprecedented spotlight.
The Novaxia real estate company intends to take advantage of this magnifying glass effect.
It has just launched the first real estate “recycling” fund, accessible through life insurance.
Objective, to recycle 180,000 m2 of offices into 4,000 housing units, in four years, thanks to the transformation of obsolete tertiary buildings.
“The buildings that were empty yesterday, on the outskirts, are not about to fill up tomorrow.
And teleworking could free up 20 to 30% more space.
Today, recycling is on the rise.
We want to do the same thing with office real estate
,
”
argues Joachim Azan, president of Novaxia.
The fund must be distributed by four insurers (Ag2R La Mondiale, Generali, Spirica, Suravenir) via units of account,
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