AXA Real Estate has sold a portfolio of retail assets in Finland to Sirius Capital Partners.
The investment manager said it sold the portfolio for one of its funds for €25m ($27.6m).
The deal follows the investment manager’s sale of a 123-asset Finnish retail portfolio for €107m late last year and announced in January.
The latest portfolio, of 18 retail assets, is made up of grocery stores let to Finnish retailer Kesko.
AXA said the Finnish real estate market presented an “attractive investment proposition to both foreign and domestic audiences”, in light of the low interest rate environment and improving availability of debt.
Henrik Bastman, head of asset management and transactions in the Nordic region at AXA Real Estate, said the sale showed the “significant investor demand for well-located food retail assets, backed by strong tenant covenants”.
Food sales in Finland continue to exhibit strong levels of performance, AXA said, making retail especially appealing to real estate investors.
Separately, AXA said it raised €7.3bn last year, split evenly between equity and debt strategies.
Capital, it said, was raised globally from both new and existing clients and for a range of investment strategies including core, value-add, development and debt.
