Arendt & Medernach advised funds managed by Blue Owl Capital Inc. on the Luxembourg aspects of a joint venture with Covivio, a leading European real estate operator, for the acquisition of Thales sites in Vélizy-Meudon, France.

Experts involved in the Deal

Arendt & Medernach advised funds managed by Blue Owl Capital Inc. on the Luxembourg aspects of the completion of a joint venture with Covivio, a leading European real estate operator, for the acquisition of three real estate sites in Vélizy Meudon, France. The assets are located at the heart of the Paris Saclay innovation hub and are occupied by Thales, a major player in the defence and aerospace sectors.

The transaction completed on 1 April 2026 and values the real estate campus at approximately €503 million. The joint venture now holds the three assets constituting Thales’ largest global site, representing over 126,000 sqm designed to accommodate nearly 6,000 employees. The assets are held 51% by Covivio and 49% by funds managed by Blue Owl Capital Inc. The transaction is part of Blue Owl Capital Inc’s strategy of investing in high-quality real estate assets leased to prime tenants in strategic markets.