Kaufman & Broad acquires Concerto ED under a partnership with Affine

With this acquisition, Kaufman & Broad has extended its commercial property offering, thus reinforcing its positioning as a high-quality general property developer. Thanks to Concerto’s expertise and its innovative positions in delivering tomorrow’s logistics solutions, Kaufman & Broad will be able to better meet the expectations of its operators, local authorities and investors who are looking for new investment opportunities.

Nordine Hachemi, Chairman and CEO of Kaufman & Broad, explains: "Today, commercial property represents a growth driver for Kaufman & Broad. With this acquisition, we’ll be able to expand our offering by combining Concerto’s know-how in the construction of logistics platforms with our expertise in office design.”

Concerto European Developer entered the consolidation scope of Affine in 2001 and in the last few years, it has become one of the key players in the development of new generation logistics platforms through turnkey contracts signed with leading consignors.

Alain Chaussard, CEO of Affine, declares: "Through this operation, Affine is confirming the strategy that it adopted at the beginning of 2010, to simplify and refocus on its office, retail and logistics property business. Thanks to the partnership with Kaufman & Broad, Affine can benefit from Concerto’s reinforced growth capacities. "

Affine will keep in its portfolio the Sant Feliu site in Catalonia, where two buildings have already been built and rented, and continue to be an investor in the Parc de l’Aube near Troyes.

Thierry Bruneau, CEO of Concerto adds: "The expertise and size of Kaufman & Broad will enable us to reinforce Concerto’s growth capacities on a dynamic French market that is receptive to the business approach that we’re developing."