Clearwater has advised the shareholders of Agarim, specialists in property dismemberment, on the sale of a majority stake to Groupe CIR, a portfolio company of Bridgepoint Development Capital, and the French leaders in the renovation and onward sale of premium city centre real estate assets.
Founded a year ago by Géraldine Tyl-Chaigne and Nayma Khellaf, Agarim specialises in the dismemberment of property, largely residential city centre real estate assets, with a strong focus on highly populated areas. The company, which will continue operating under its own brand, has already successfully acquired and sold several assets, primarily in Paris. A dozen premium buildings located in highly-sought after cities such as Neuilly-sur-Seine or Nantes are currently being marketed to potential investors.
Groupe CIR’s acquisition of Agarim comes two years after its LBO with Bridgepoint Development Capital and a few months after its own refinancing. Through this transaction, François Larrère and Franck Temim, Groupe CIR’s co-founders, intend to implement synergies in order to "benefit from the strong underlying drivers of the property dismemberment market" and support future growth.
