Real estate developer Nexity is set to raise its stake in the parent company of French senior residences provider ?gide-Domitys group to 63.15% from 45.15%.
The purchase of the additional 18% interest from ?gide-Domitys founders via JMF Conseil will be completed through the exercise of an option, subject to finalizing documentation. JMF Conseil will own the remaining 36.85% interest.
The transaction builds upon the strategic partnership between the French developer and ?gide-Domitys, which was started in October 2016. Under the agreement, Nexity provides the company financial resources to grow its business, while adding a line of senior independent living facilities to its own, according to a release.
Currently, the ?gide-Domitys group is operating about 80 serviced senior residences.
