Foncia has announced the acquisition of the property management division of Tagerim, adding 17 new branches to its existing network of over 600 across France.
Foncia has announced the acquisition of the property management division of Tagerim, adding 17 new branches to its existing network of over 600 across France.
Tagerim's property management arm has a 500 staff and a strong local presence in Southern France. The unit specialises in joint-property management, lease management, brokerage and rentals.
Financial details of the transaction were not disclosed.
François Davy, president of Foncia said that the acquisition is 'a remarkable opportunity' to strengthen the company's position in the French property market. 'We will be able to accelerate our growth,' he added.
Foncia is a major residential real estate services group, with a 7,000 employees and offices in Switzerland, Belgium and Germany.
