The French developer Nexity is selling its management stake.

The company Nexity is taking an important step in its development by selling its property management division to the investment company Bridgepoint for 440 million euros. This will allow the company to accelerate its transformation process and reduce its debt.

The operation involves a six-year strategic partnership between Nexity and a new organization, aimed at strengthening and increasing synergy with the group's promotional activities.

The customer service division will now belong to the Evoriel group, which will have over 3,100 employees specializing in property management, leasing, real estate transactions, and insurance. These employees are transitioning to the new structure following the deal.

CEO of Evoriel, Karin Olivier, notes that with the help of Bridgepoint, the company will have the opportunity to accelerate its growth and implement its ambitious plans.

French and Belgian developers are finding themselves in a difficult position due to rising construction costs and declining demand. The need to cut expenses is becoming increasingly urgent in the current crisis.