AXA IM Alts has added a 287-unit residential asset to its US multifamily real estate portfolio.
The manager has acquired the property in Raleigh, North Carolina, on behalf of clients for an undisclosed amount.
AXA IM Alts said the acquisition represents its second joint venture with Hawthorne Residential Partners, who will act as property manager.
The asset, renamed Hawthorne Davis Park, is a recently renovated property featuring a mix of one-, two- and three-bedroom apartments.
This acquisition represents AXA IM Alts’ second current investment in the North Carolina residential market following the acquisition of a 237-unit asset in Charlotte in March this year.
AXA IM Alts manages a $26bn (€25bn) global residential portfolio spread across 15 countries.
To read the latest edition of the latest IPE Real Assets magazine click here.