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TwentyTwo Real Estate has acquired a 40% stake in French property services firm Financière Scaprim as part of its strategy to provide a full real estate service offering.

Financière Scaprim currently manages around €6 bn of assets consisting of 1.4 million m2 of office, industrial and retail space as well as 16,000 residential units. The company has a staff of 147 based in 18 offices throughout France and focuses on providing institutional clients with asset and property management services.

Financière Scaprim is involved in the management of around €6 bn of assets generating €335 mln in rental income per annum.

The transaction follows the announcement in June of TwentyTwo Real Estate's maiden investment, the acquisition of Financière Selec, a €1 bn French residential portfolio which has been managed by subsidiaries of Financière Scaprim for the last 12 years.

'Our ambition is to build Financière Scaprim into a leading independent French real estate service provider to institutional clients,' said Daniel Rigny, founder of TwentyTwo Real Estate.

He added: 'As well as increasing our platform in France we are also looking to expand into other European countries such as Spain, where there is an opportunity for international investors to acquire assets at a significant discount to historical values and where there is demand for operating platforms meeting international investors’ standards.'

To further accelerate TwentyTwo Real Estate's drive towards creating a full real estate service offering, the company has appointed Philippe Couturier as managing director of Financière Scaprim in charge of asset management and client development.

He previously worked at Constructa Asset Management, where he held the position of CEO, working across property, asset and works management.

Christophe Kuhbier has been appointed as a director based in London, focussing on the development of investment management services across European real estate markets.

He most recently spent five years at Perella Weinberg Real Estate, working with TwentyTwo Real Estate’s founder, Daniel Rigny. At Perella Weinberg, Kuhbier was in charge of sourcing, and the execution and management of real estate investment opportunities covering continental Europe, with a particular focus on France and Spain.

TwentyTwo Real Estate is a privately held independent asset management and investment management business founded by Daniel Rigny in 2012 that specialises in real estate and real estate-related investment opportunities in Europe.