GLOBAL - Axa Real Estate Investment Managers has acquired six hotels from listed real estate investor Foncière des Murs.
The acquisition, part of a joint venture on behalf of France's Caisse des Dépôts de Consignations and Sogecap and Axa Group's insurance business, will complete before the end of the year, costing €132.9m.
The properties, located in Paris, Brussels and Gent, will continue to be operated by Accor Hotels.
Meanwhile, Deutsche Bank Asset Management's real estate arm RREEF has bought the Dockside office in Lyon, France, for €46.5m.
The deal, conducted on behalf of one of the company's German Spezialfonds, was praised as an ideal acquisition for the German core fund clients by Georg Allendorf, RREEF's head of Germany, Austria and Switzerland.
In other news, Climate Change Capital's property fund has sold its freehold interest in London's 77 Gracechurch Street for £43.5m (€48.4m).
CCC worked closely with tenants to reduce energy consumption after the installation of an energy monitoring unit, which produced reports every half hour.
Tim Mockett, joint partner of the Climate Change property fund, said all its properties were being made more energy efficient in light of rising energy and carbon-related costs.
The property was acquired by the fund in May 2010 for £35.9m.
Finally, London & Stamford Property (L&S) has bought more than 100 residential units with 31 attached car parking spaces in the Seward Street development in the London borough of Islington.
While a £49.1m asking price was agreed, L&S has paid a deposit of £2.3m with the remaining payments made in four phases as the units are handed over.
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