Altarea Cogedim, a French company dedicated to both the development and investment in real estate, agreed to acquire a 50% stake in Woodeum Residentiel, a French real estate developer, for €50m ($56m). “Faced with the mobilisation against climate change, we have an unprecedented responsibility to develop more sustainable and resilient towns and cities. This is the driver behind the strategic partnership we are forging with Woodeum. As an urban entrepreneur, we are firmly convinced that timber construction will play a key role in the development of low-carbon towns and cities. We are committed to speeding up our development in this field by providing an ambitious offering designed to meet the needs of local authorities and the expectations of users,” Alain TARAVELLA, Altarea Cogedim Group Founder and Chairman.