Crédit Agricole Immobilier Strengthens Market Leadership with Acquisition of Nexity Property Management

Crédit Agricole Immobilier Strengthens Market Leadership with Acquisition of Nexity Property Management

(IN BRIEF) Crédit Agricole Immobilier has completed its acquisition of Nexity Property Management, a subsidiary specializing in commercial and residential asset management, solidifying its position as the leading institutional property management player in France. This acquisition enhances Crédit Agricole Immobilier’s expertise across various management services and expands its network of over 30 branches nationwide, enabling better service to institutional clients. The move follows Crédit Agricole Immobilier’s previous acquisition of Sudeco and aligns with Nexity’s strategy to refocus its activities. Both companies anticipate that this transaction will maintain service quality and enhance market share while having no significant impact on Crédit Agricole S.A.’s CET1 ratio.

(PRESS RELEASE) MONTROUGE, 6-Nov-2024 — /EuropaWire/ — Crédit Agricole Immobilier has successfully finalized its acquisition of Nexity Property Management, a subsidiary of Nexity focused on managing both commercial and residential assets. This significant transaction, first announced on July 25, 2024, positions Crédit Agricole Immobilier as the foremost institutional property management entity in France.

The acquisition enhances Crédit Agricole Immobilier’s capabilities, broadening its expertise in various domains, including advisory services, accounting, technical rental management, and oversight of works and shopping malls. With Nexity Property Management’s extensive network of over 30 branches throughout France, Crédit Agricole Immobilier significantly bolsters its own regional presence. This expansion will enable the firm to better serve its institutional clients, particularly those connected to the Regional Banks and subsidiaries within the Crédit Agricole Group. The enhanced local footprint aligns with the bank’s Universal Customer-focused Banking Model, facilitating a more tailored approach to client investment projects.

This latest acquisition follows Crédit Agricole Immobilier’s earlier purchase of Sudeco, a well-established player in the property management sector, which occurred 18 months prior. Collectively, these strategic moves have solidified Crédit Agricole Immobilier’s position as the market leader, offering a comprehensive suite of services to institutional clients across various asset categories, from residential to commercial properties. Currently, Crédit Agricole Immobilier oversees more than 11,000 assets.

For Nexity, this transaction is part of a broader strategic roadmap, reinforcing its refocusing initiatives initiated in 2023. The acquisition has no significant impact on Crédit Agricole S.A.’s Common Equity Tier 1 (CET1) ratio and is expected to deliver returns consistent with Crédit Agricole’s investment policies.

Valérie Wanquet, Chief Executive Officer of Crédit Agricole Immobilier, expressed her enthusiasm: “We are thrilled to welcome the Nexity Property Management teams into the Crédit Agricole Immobilier family. This acquisition is a crucial step in our journey to lead property management in France. We are enhancing our expertise across all facets of property management and expanding our national presence. Together, we are poised to tackle new challenges, embodying our strategic vision for 2025 and supporting our clients in addressing significant social and environmental issues, including the reduction of carbon footprints in their property assets.”

Jean-Claude Bassien, Deputy Chief Executive Officer of Nexity, also shared his satisfaction with the deal: “I am pleased that we have successfully completed this transaction with the Crédit Agricole Group, a long-term strategic partner for Nexity. This aligns perfectly with our ongoing efforts to streamline our activities, which began at the end of 2023. I want to extend my gratitude to the Nexity Property Management teams and wish them success with their new partner. I am confident that Crédit Agricole Immobilier will continue to uphold the quality of its services while expanding its market presence.”

This press release was authored to detail Crédit Agricole Immobilier’s strategic acquisition and its implications for the property management landscape in France.

ABOUT CRÉDIT AGRICOLE IMMOBILIER

A subsidiary of the Crédit Agricole Group, Crédit Agricole Immobilier supports its individual, corporate and public authority customers with real estate projects throughout France while upholding three fundamental principles: sustainability and performance of buildings, respect for the environment and decarbonisation, and social cohesion and inclusion.

As a partner in the most ambitious property development projects, we work with our customers to create value throughout their projects: transaction, letting, rental management, co-ownership associations, property strategy, residential and commercial development, refurbishment, renovation, development of spaces, property management and operation.

To find out more, visit: www.ca-immobilier.fr/nous-connaitre

NEXITY, LIFE TOGETHER

With revenues of €4.3 billion in 2023, Nexity, the leading global real estate operator, is present all over France and operates in all areas of development and services. Our strategy as leading global real estate operator allows us to meet all our clients’ needs, whether they are individuals, corporates, institutions or authorities. Our raison d’être ‘life together’ reflects our commitment to create sustainable spaces, neighbourhoods and towns for them, that help them to build and rebuild connections. For the sixth consecutive year, Nexity was ranked the top contracting authority by Association pour le développement du Bâtiment Bas Carbone (BBCA – a French low-carbon building association), is a member of the Bloomberg Gender Equality Index, Best Workplaces 2021 and was certified a Great Place to Work® in September 2022.

Nexity is listed on Service de Règlement Différé (SRD – Deferred Settlement Service), in Compartment A of Euronext and on the SBF 120.

Media Contacts:

CRÉDIT AGRICOLE IMMOBILIER:
Vanessa Feugères – +33 (0)7 86 84 19 15 – vanessa.feugeres@ca-immobilier.fr

NEXITY:
Cyril Rizk – Media Relations Manager / +33(0)6 73 49 72 61 – presse@nexity.fr
Emma Durel – Media Relations Officer / +33 (0)6 99 14 09 28 – presse@nexity.fr
Anne-Sophie Lanaute – Head of Investor Relations and Financial Communications / +33 (0)6 58 17 24 22 –
investorrelations@nexity.fr

SOURCE: CRÉDIT AGRICOLE