Axa IM acquires office portfolio

The real assets arm of Axa Investment Managers has completed the purchase of a €1.1 billion European office portfolio through the acquisition of NorthStar Realty Europe.

According to the firm, the deal gives Axa IM access to a portfolio of prime European offices and hotels that will be integrated into its own wider portfolio of European real assets.

NorthStar Realty Europe’s portfolio is comprised of 122,000 sqm of office space in cities across Europe’s three core markets – France, the UK and Germany – the firm said.

The acquisition also includes two hotels in Berlin which total 334 rooms across 12,000 sqm.

John O’Driscoll, European head of transactions at Axa IM – Real Assets, said the offices have high occupancy rates and produce strong levels of income with longer term potential for further income generation.

©2019 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

CLOUD DATA PLATFORMS

Luxembourg is one of the world’s premiere centres for cross-border distribution of investment funds. Read our special regional coverage, coinciding with the annual ALFI European Asset Management Conference.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST