Deal typePrivate Equity
IndustryReal Estate
Client nameParis Rental
BDO Advisory advised the sale of the group comprising De Circourt Associates (brand Paris Rental) and Home Management to the real estate family office Asteria.
Paris Rental has, for over 35 years, been one of the main players in premium furnished apartment rentals in Paris, primarily serving an expatriate clientele, with over 7500 property owners regularly using its services.
Its property management subsidiary, Home Management, handles leasehold management mandates and provides a full range of management services for rental property owners.
Asteria is a Real Estate Family Office that, through its various subsidiaries, offers a comprehensive range of real estate services: property management for unfurnished and furnished apartments, offices and retail spaces, furnished apartment rentals and real estate sales and investment.
With the acquisition of Paris Rental, Asteria significantly strengthens and enhances its furnished rental offering, particularly for companies, embassies and expatriates, while Home Management and its 150 high-end apartments located in Paris's finest neighborhoods expand the management portfolio of France Ermitage, the group’s dedicated subsidiary.
Asteria's' partners, Brice Eurieult, Arnault de Pibrac and Nicolas de Brem, state: “This acquisition marks a key milestone in our growth, creating synergies with our historical activities. In addition to growing our management portfolio, we are expanding our marketing network to an international clientele and companies, offering an even greater selection of furnished apartments”.
Thibaut Baptiste, M&A Partner at BDO Advisory, in charge of the sale mandate of De Circourt Associates and Home Management, comments: “We are delighted with this merger, which promises excellent synergies between the two groups. Asteria acquires genuine international expertise, while Paris Rental and Home Management will be able to better leverage their client portfolios thanks to Asterias's highly complementary services”.
Paris Rental has, for over 35 years, been one of the main players in premium furnished apartment rentals in Paris, primarily serving an expatriate clientele, with over 7500 property owners regularly using its services.
Its property management subsidiary, Home Management, handles leasehold management mandates and provides a full range of management services for rental property owners.
Asteria is a Real Estate Family Office that, through its various subsidiaries, offers a comprehensive range of real estate services: property management for unfurnished and furnished apartments, offices and retail spaces, furnished apartment rentals and real estate sales and investment.
With the acquisition of Paris Rental, Asteria significantly strengthens and enhances its furnished rental offering, particularly for companies, embassies and expatriates, while Home Management and its 150 high-end apartments located in Paris's finest neighborhoods expand the management portfolio of France Ermitage, the group’s dedicated subsidiary.
Asteria's' partners, Brice Eurieult, Arnault de Pibrac and Nicolas de Brem, state: “This acquisition marks a key milestone in our growth, creating synergies with our historical activities. In addition to growing our management portfolio, we are expanding our marketing network to an international clientele and companies, offering an even greater selection of furnished apartments”.
Thibaut Baptiste, M&A Partner at BDO Advisory, in charge of the sale mandate of De Circourt Associates and Home Management, comments: “We are delighted with this merger, which promises excellent synergies between the two groups. Asteria acquires genuine international expertise, while Paris Rental and Home Management will be able to better leverage their client portfolios thanks to Asterias's highly complementary services”.