What TwentyTwo Real Estate does

TwentyTwo Real Estate is a Luxembourg-domiciled, Paris-headquartered private real estate investment and operating group founded in 2012 by Daniel Rigny. It runs an integrated investor-operator model structured around three divisions: Investments (fund management, portfolio management, acquisitions, and asset management), Services (Scaprim Property Management and Scaprim Project Management), and Residential Transactions (the Allowa digital marketplace). The firm manages €5.2 billion of assets across managed funds and asset management mandates, split between €3.7 billion of tertiary/commercial assets (offices, retail, logistics, healthcare, hospitality) and €1.5 billion of residential assets. Property management operations cover 19,200 residential units and 1.3 million sqm of commercial floor area in France through Scaprim, while the Allowa marketplace has processed €387 million of residential transaction volume since 2020 across 4,000 leases and 2,400 sales.

The company generates revenue from four principal streams: fund and asset management fees (management and performance fees across core+, value-add, opportunistic, and credit strategies), property management and project management services delivered through Scaprim, co-investment income from direct participation alongside managed funds, and transaction commissions via Allowa. Customer segments include pension funds, insurance companies, sovereign wealth funds, family offices, and large institutional property owners, with named anchor relationships including emeis (healthcare REIT Isemia and senior residences) and Farallon Capital (co-investor since 2013). The firm operates 20 offices across Europe, including 17 regional offices in France, Paris, London, and Luxembourg, and has expanded into Germany (Center Parcs Allgäu, Isemia assets), Spain (Isemia clinics), and Belgium (Terhills Resort).

The technology stack centers on the Allowa digital marketplace for residential sales and lettings with data-driven pricing optimization, plus proprietary unit-by-unit acquisition tooling for single-family home portfolios. Strategic moves in 2025–2026 include the €761 million Isemia healthcare real estate joint venture, the €160 million senior residence platform acquisition from emeis, and the strategic reorganization into three operating divisions announced in January 2025. Notable financing partners include BNP Paribas and Natixis, which provided €560 million in financing for Powerhouse Habitat and arranged the original €620 million Financière Selec refinancing. Powerhouse Habitat holds the French Socially Responsible Investment (SRI) Label awarded in 2022.

Name

TwentyTwo Real Estate

Legal name

TwentyTwo Group Holding S.à r.l.

Website

https://twentytwo.com

Company type

Private

Founded year

2012

Headcount range

101–250 employees

Short description

TwentyTwo Real Estate is a Paris-based, Luxembourg-domiciled private real estate investor-operator managing €5.2 billion in AUM across offices, retail, logistics, healthcare, hospitality, and residential assets through three divisions (Investments, Services, Residential Transactions), serving institutional LPs, family offices, and large property owners across Europe.

Ownership category

akta.pro rank

Product category

Real Estate Investment Management

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940), Offices of Real Estate Agents and Brokers (5312)

SIC

Real Estate (6500), Investors, Nec (6799), Real Estate Agents & Managers (For Others) (6531), Real Estate Investment Trusts (6798)

akta.pro primary industry

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

akta.pro secondary industries

Real Estate Debt & Mortgage Strategies (FSAAAKAC), Real Estate Fundraising Placement (REPE/REIT/Property Funds) (FSAEALAD), Real Estate Credit / Debt Funds (FSANAEAJ), Residential Investment Property Brokerage (SFR/Small Multifamily) (BPAJAAAE)

Keywords

• Real estate investment management
• Property management services
• Asset management
• Fund management
• Project management services

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Fund Management: Management fees and performance fees from managing real estate investment funds across core+, value-add, opportunistic, and credit strategies
2. Property Management Services: Property management services for institutional owners covering residential, commercial, office, retail, and logistics assets with 19,200 residential units and 1.3M sqm of commercial space under management
3. Project Management Services: Project management assistance (AMO), delegated project management (MOD), and VEFA-CPI services for new-builds and major refurbishments across all asset classes
4. Asset Management: Asset management fees from managing commercial real estate portfolio including offices, retail, logistics, healthcare, and hospitality assets
5. Co-investment Income: Returns from direct co-investments alongside managed funds, targeting minimum 6% yield and 12% IRR on healthcare investments
6. Allowa Residential Transactions: Commission-based residential sales and lettings marketplace handling 4,000 leases signed and 2,400 sales completed with €387M total transaction volume since 2020

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

TwentyTwo Real Estate operates an integrated investor-operator real estate platform organized into three divisions. The Investments division provides fund management, portfolio management, acquisitions, and asset management across core+, value-add, opportunistic, and credit strategies. The Services division delivers property management (Scaprim) and project management (Scaprim Project Management) for residential, office, retail, logistics, healthcare, and hospitality assets. The Transactions division runs the Allowa digital marketplace for residential sales and lettings. The firm manages €5.2 billion in AUM and deploys co-investment capital alongside institutional investor partners.

Product overview

TwentyTwo Real Estate operates as an integrated investor-operator model with three main divisions: Investments (fund management, portfolio management, acquisitions, and asset management), Services (property management via Scaprim and project management via Scaprim Project Management), and Transactions (Allowa digital marketplace for residential sales and lettings). The company manages €5.2 billion in assets across commercial real estate (€3.7 billion) and residential (€1.5 billion), covering offices, retail, logistics, healthcare facilities, and hospitality. Key products include Scaprim Property Management serving 19,200 residential units and 1.3 million sqm of commercial space; Scaprim Project Management delivering over 322,000 sqm of projects; Allowa digital marketplace processing over 4,000 leases and 2,400 sales; Powerhouse Habitat subsidiary managing €1.4 billion in residential assets; TwentyTwo Credit I structured financing vehicle; and the logistics-focused Fund III. Major investments include the Isemia healthcare REIT joint venture (€1.2 billion portfolio with 68 facilities) and Center Parcs Allgäu hospitality asset in Germany.

Differentiator

Problem solved

Functional benefit

Products and services

• Scaprim Property Management Property management services covering commercial real estate (offices, retail, logistics) and residential assets for institutional owners across France, managing 19,200 residential units and approximately 1.3 million sqm of commercial floor area.
• Scaprim Project Management Project management assistance (AMO), delegated project management (MOD), and project management for forward-purchase projects (VEFA-CPI) covering residential, offices, retail, hotels, and serviced apartments, with over 322,000 sqm of projects delivered cumulatively.
• Allowa Digital marketplace for residential sales and lettings that uses proprietary technology to provide institutional and private clients with data-driven pricing optimization and digital transaction management, completing more than 1,500 transactions annually with €387 million in cumulative transaction volume since 2020.
• Powerhouse Habitat Residential property investment subsidiary holding €1.4 billion in assets, comprising 4,600 single-family homes and 570,000 sqm located in 160 cities throughout France; awarded the Socially Responsible Investment label.
• TwentyTwo Credit I Investment vehicle targeting high-yielding real estate credit opportunities in Europe, including distressed debt, mezzanine, and preferred equity secured by commercial properties.
• TwentyTwo Real Estate Fund III Investment fund focused on logistics assets, including the GreenBerry XXL logistics platform (80,000 sqm in Bourges), with solar energy initiatives including photovoltaic power plant projects.
• Isemia Healthcare real estate investment company created with emeis and Farallon Capital, holding approximately €1.2 billion in assets across 68 properties in France (68%), Germany (19%), and Spain (13%), comprising elderly care facilities (48%) and clinics (52%) operated under long-term leases by emeis.

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core.

• emeiscoreStrategic or Co-development Partner · 14 January 2026TwentyTwo Real Estate and Farallon Capital partnered with emeis to create Isemia, a €1.2 billion healthcare real estate company. The partnership involves €761 million investment (62% of portfolio appraised value) creating a platform with 68 healthcare facilities across France (68%), Germany (19%), and Spain (13%). emeis retains full operational management while investors receive minimum 6% annual return with 90% of any value created above 12% IRR.
• Financière ScaprimcoreStrategic or Co-development Partner · 1 September 2013TwentyTwo Real Estate acquired a 40% stake in Financière Scaprim (now Scaprim Property Management), a leading French property management firm with €6 billion of assets under management, 147 staff, and 18 offices across France. This partnership enabled the integrated investor-operator model.

Scale indicators14 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• Catella: European real estate investment manager with French presence and multi-strategy approach. Comparable in pan-European RE fund raising, property management services, and asset management mandates.
• Icade: French REIT with significant healthcare real estate platform (Icade Santé). Closest direct comparable for TwentyTwo's Isemia healthcare REIT strategy and French institutional healthcare RE exposure.
• BNP Paribas Real Estate: Major French property management, advisory, and capital markets firm. Directly comparable to TwentyTwo's Scaprim property/project management services division and institutional mandate execution.
• Perial Asset Management: French independent RE asset manager operating SCPIs, OPCls, and institutional funds. Directly comparable in French RE fund management, SRI-labeled strategies, and institutional/HNW distribution.
• Sofidy: French real estate asset manager (subsidiary of Tikehau Capital) managing SCPIs and institutional RE funds. Comparable in French RE asset management, multi-strategy retail/institutional offerings, and SRI positioning.
• AEW Capital Management: Global real estate investment manager with strong European institutional platform and multi-strategy funds. Comparable to TwentyTwo's AIFM function, multi-strategy approach, and European institutional client base, though typically larger AUM.
• La Française Group: French asset manager with significant real estate investment management franchise serving institutional and HNW investors. Comparable in European RE fund management, multi-strategy offerings, and integrated services.
• Praemia REIM (formerly Primonial REIM): One of France's largest RE asset managers with multi-strategy funds and institutional/HNW distribution. Closest French comparable to TwentyTwo's integrated investor-operator model and AIFM structure.

Broad incumbents

• AXA IM Real Assets: Large European real assets investment manager (€30B+ RE AUM) offering direct funds, debt, and infrastructure. Broader incumbent comparable for institutional capital raising, multi-strategy offerings, and European geographic reach.
• Covivio: Major European REIT with French office, residential, and hotel portfolios. Comparable in French institutional real estate strategy, multi-sector exposure (office/residential/hospitality), and European footprint, though at significantly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TwentyTwo Real Estate