AXA Investment Managers-Real Assets has invested €120m in a mixed-use real estate asset in central Brussels, acquiring the Wiltcher’s Complex from AG Real Estate.

Antoine Aubry, a fund manager at AXA IM-Real Assets, said the deal was directly in line with the philosophy of the company’s funds, offering diversification across a number of asset classes through the one core investment.

“The Wiltchers complex, benefiting from a prime location in one of Europe’s key markets, has the potential to create excellent value for our retail investor clients as we capitalise on the strong economic fundamentals of the Brussels market,” he said. 

The asset was bought for a joint venture of AXA Selectiv’ Immo, and retail fund AXA Selectiv’ Immoservice.

The 44,200sqm scheme includes office, retail and residential units, as well as the Steigenberger hotel.