Bredin Prat advises Nexity as it enters into exclusive negotiations with Bridgepoint for the sale of its residential property management business

Bredin Prat is advising the real estate operator Nexity as it enters into exclusive negotiations with the asset manager Bridgepoint for the sale of its residential property management services business, based on an enterprise value of €440 million. The contemplated transaction would also involve the conclusion of a strategic partnership agreement aimed at perpetuating and amplifying existing synergies with Nexity’s activities.

The proposed strategic and financial partnership agreed by Bridgepoint and Nexity would enable all the business activities involved (co-owned property management, rented property management, real estate transactions and insurance brokerage) to continue to develop, and allow Nexity to secure and boost the synergies created over the past few years with these activities.

The contemplated transaction remains subject to consultation with Nexity’s employee representative bodies and to the European Commission’s review procedure.

The Bredin Prat team advising Nexity comprised:

• Corporate: Olivier Assant and Jean-Benoît Demaret (partners), Ferdinand Barbé, Alessia Grassi and Armance Amadieu
• Competition: Marie-Cécile Rameau (partner), Wenceslas Chelini and Camille Duprié
• Employment law: Laetitia Tombarello (partner), Caroline Combes and Audrey Demourgues
• Tax: Julien Gayral (partner) and Paul Cauchin
• IT/IP: Juliette Crouzet (counsel), Félix Marolleau and Timothée Guichoux