Clearwater International has advised Galimmo, a listed real estate property company, and its shareholders on its € 30.1m share capital increase with Primonial Capimmo, managed by Primonial REIM.
Galimmo is a real estate property company listed on the Paris stock exchange and dedicated to the ownership and development of commercial assets in France and Belgium (www.galimmo.com).
Primonial REIM is one of the main real estate investors in the French market with more than € 10bn assets under Management.
With this additional transaction, Clearwater International reaffirms its expertise in the commercial real estate sector.
The Clearwater International team was led by Partner Laurent Camilli, Director Julie Duvillier-Raoul and supported by Aubert Simonnot, Associate, and Guillaume Fenni, Analyst.
Maël Aoustin, Galimmo CEO said: “We are delighted with the investment of Primonial Capimmo managed by Primonial REIM, a leading player in commercial real estate. This partnership will allow us to strengthen the investment capacity of Galimmo while accelerating the valuation and development of its assets.”
Grégory Frappet, Primonial REIM CEO added: “Commercial real estate is now a real alternative for investors provided that assets are managed by specialists. This partnership with a major new player in commercial real estate, whose assets are strongly anchored to a major player in the retail sector, reflects Primonial REIM’s belief in developing user-friendly shopping centers by building their leadership in their catchment areas.”
Laurent Camilli, Clearwater International, Managing Partner commented: “Galimmo aspires to be one of the leading players in the French commercial real estate market. We are fully confident in the ability of the management team to succeed in this challenge.”