Vonovia SE and Société Nationale Immobilière, France's largest residential landlord, signed a memorandum of understanding through which the companies said they plan to explore common ground for future cooperation, including potential cross-border investment.

The companies have agreed to explore, among other things, the ways in which digital and traditional real estate approaches work together; identifying potential methods of saving energy; exchanging information about portfolio management; and identifying customer services that can help drive growth.

The companies noted that high levels of urbanization and other demographic shifts in European metropolitan markets are driving the need for redevelopment and development of residential housing. Through their partnership, Vonovia and SNI said they "aim to help shape a European public interest housing model that addresses these common requirements."