AXA Real Estate Investment Managers has completed two acquisitions in France for a total of €115 mln on behalf of its AXA Selectiv’ Immo fund.
AXA Real Estate Investment Managers has completed two acquisitions in France for a total of €115 mln on behalf of its AXA Selectiv’ Immo fund.
The acquisitions comprise the purchase of the Eurosud office building in Lille and a 50% interest in Le Diagonal asset in Châtillon, Paris, as part of a joint venture.
The acquisitions are in line with the fund’s core strategy of building a portfolio of assets which is diversified across Europe and mainly invested in the office, residential and retail sectors. Following these acquisitions the fund’s portfolio comprises 18 assets located in France, Spain and Italy, valued at €460 mln.
Eurosud, located at 179 Boulevard de Turin in Lille, is an eight-storey office building built in 2006. The 75,068 sq ft (6,974 m2) property is located in Euralille, France’s third-largest business district and situated close to the Belgian border.
Le Diagonal, at 140-166 avenue de la République, is located in the Châtillon area of Paris and is a freehold property which AXA Real Estate has acquired on behalf of a 50/50 joint venture between AXA Selectiv’ Immo and an AXA insurance company. It comprises 204,000 sq ft (19,900 m2) of office space across two separate buildings which are fully let to two multinational companies. Built in 2006, the asset also offers 480 parking spaces.