AXA Investment Managers - Real Assets has announced that it undertook €756 mln of real estate transactions in Germany over the first nine months of 2015 on behalf of clients.

AXA Investment Managers - Real Assets has announced that it undertook €756 mln of real estate transactions in Germany over the first nine months of 2015 on behalf of clients.

The investment arm of French insurer AXA said it led some of the country’s largest offices, retail, logistics and hotels deals, many of which were completed alongside or on behalf of some of the most active investors from Europe through funds, joint ventures or third-party mandates.

AXA IM - Real Assets said it completed acquisitions totalling €533 mln over the nine months.

A key deal involved taking a 35% stake in Ruhr Park Shopping Centre together with Unibail-Rodamco on behalf of AXA Selectiv’ Immo, a French regulated fund, and an AXA insurance company. The stake was acquired from Perella Weinberg Real Estate Fund I for €231 mln.

Other notable investment transactions included buying The Twenty 8 and Elisenhof office complex, both in Munich.

Development
As part of its development strategy, AXA IM - Real Assets also obtained permission to redesign the office complex Die Welle, situated in the heart of Frankfurt. Having originally acquired the asset in 2012, AXA IM - Real Assets has since deployed initiatives to optimise the existing structure for tenants and residents of Frankfurt alike.

Matthias Leube, managing director of AXA Investment Managers Deutschland dedicated to real assets, commented: 'Our team has succeeded in completing a series of landmark transactions whilst further establishing AXA IM - Real Assets as a key player within this core market. As the team looks to further extend its footprint within the region, we will continue to source and consider transactions which we believe offer the upmost in value for our clients, including new investments within the alternatives sector.'

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