AXA Real Estate Investment Managers (AXA REIM) completed EUR 5.7 bn of transactions on behalf of its clients last year. The amount falls slightly short of the planned investment volume for 2008 announced by the French fund manager at the beginning of the year - EUR 6.3 bn - but is in line with the volumes recorded in 2007 (EUR 5.7 bn). In 2008, investments worth around EUR 3 bn and EUR 2.7 bn in disposals were completed on behalf of the various funds managed by AXA REIM.
AXA Real Estate Investment Managers (AXA REIM) completed EUR 5.7 bn of transactions on behalf of its clients last year. The amount falls slightly short of the planned investment volume for 2008 announced by the French fund manager at the beginning of the year - EUR 6.3 bn - but is in line with the volumes recorded in 2007 (EUR 5.7 bn). In 2008, investments worth around EUR 3 bn and EUR 2.7 bn in disposals were completed on behalf of the various funds managed by AXA REIM.
Pierre Vaquier, CEO of AXA REIM said: 'We have completed EUR 29 bn of transactions in Europe during the past five years on behalf of over 130 institutional clients and have reviewed more than EUR 300 bn of property deals over the last three years. This demonstrates that we are well placed to access superior transaction volumes on behalf of our clients'.
He said the company is targeting further growth in the Asian market through new offices in Tokyo and Singapore. 'In order to provide further diversification opportunities to our clients, we are currently extending our activities into Asia with local offices in Tokyo and Singapore and intend to grow quickly investing and accessing capital in the region,' he said.
Major transactions completed in 2008 included the acquisition of the Rivas Futura retail park in Spain by ERIV II; 57 Accor hotels in France and Switzerland by EHV and APIV; the Marseille Clinic Portfolio in Germany by APIV; the Rodamco logistics portfolio in Spain; the Perspective Défense office property in Paris; the first part of the Stora Bernstorp retail park in Sweden by AXA Immoselect; the Gazeley logistics portfolio in France, the Hitachi Power office property in Duisburg, Germany and the Sovereign House office property in London, UK by AXA Immosolutions; and the Vespucci House office property in Hamburg, Germany by AXA REAL INVEST II.
Major sales in 2008 included the St. Jakobs Park Soccer Stadium in Basle, Switzerland; the Batigere residential portfolio, France; the Logement Français residential portfolio, France; the Rue du Rocher office property in Paris, France; the Castel Guelfo factory outlet in Bologna, Italy; and the La Illa office property in Barcelona, Spain.
