AXA Real Estate has bought two properties in France for €115m on behalf of its AXA Selectiv’ Immo vehicle.
The investment manager bought the Eurosud office asset in Lille and a 50% stake in Le Diagonal asset in Châtillon, Paris for the OPCI (Organisme de Placement Collectif en Immobilier) vehicle.
The deals take the fund’s portfolio to 18 assets, spread across France, Spain and Italy and worth €460m. Office, residential and retail properties are being sought by the fund.
Earlier this month, AXA said it had invested €114m in two assets in Italy and Spain for the same French OPCI vehicle, buying in Madrid and Rome.
AXA bought a 50% stake in the Gran Via 37 retail asset in Madrid in a joint venture with a French pension fund that has given AXA REIM an investment mandate.
The company also bought the Via Paolo di Dono 223 office asset in Rome, a fully let 16,580sqm property.
The latest assets, in Lille’s Boulevard de Turin and in Avenue de la République in Paris, are both multi-let. AXA said the latter was bough in a joint ventue with an AXA Insurance entity.
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