AXA Investment Managers has created a new investment fund for institutional investors focused on residential properties. The company said its Immoresidential vehicle has a target size of up to EUR 1.8 bn and will be managed by Ulf Harald Koepke. 'Institutional investors' interest in housing units has grown noticeably on the back of more volatile markets', said Koepke, adding that investors such as insurance companies, pension funds and banks are attracted by the higher stability of these types of assets.
AXA Investment Managers has created a new investment fund for institutional investors focused on residential properties. The company said its Immoresidential vehicle has a target size of up to EUR 1.8 bn and will be managed by Ulf Harald Koepke. 'Institutional investors' interest in housing units has grown noticeably on the back of more volatile markets', said Koepke, adding that investors such as insurance companies, pension funds and banks are attracted by the higher stability of these types of assets.
The fund will invest in apartment units, student apartments as well as family housing units. Germany is expected to account for 80-90% of the portfolio location, while the eurozone will represent the remaining 10-20%. AXA said it has acquired 91 housing units in Germany for some EUR 24 mln which will be transferred to the fund. Other acquisitions are being negotiated in Duesseldorf, Cologne, Frankfurt and Munich.
