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Acquisition of central Paris office portfolio

Acquisition of central Paris office portfolio

Press Release
04 October 2017

AXA Investment Managers - Real Assets completes acquisition of central Paris office portfolio

AXA Investment Managers - Real Assets (“AXA IM - Real Assets”), a global leader in real asset investments and the leading(1) real estate portfolio and asset manager in Europe, announces that it has completed the acquisition of two core office properties centrally located in Paris’ 8th arrondissement on behalf of its clients. This transaction was structured as a sale and leaseback agreement with the vendor and assets’ sole tenant, a French financial institution.

The two attractive Haussmanian assets, dating back to the late 19th century, are located just 150 metres apart from one another in the eastern part of Paris’ highly demanded central business district. Totalling almost 9,000 sqm, each of the assets have benefited from a full refurbishment and modernisation in more recent years.

The larger of the two properties, located on the corner of rue de Madrid, comprises a total lettable area of c.5,000 sqm, spread across seven floors plus three underground levels, including 49 parking spaces. Highlight features of the U-shaped building include an inner courtyard and accessible balconies for occupants’ use. The second property, on rue du Général Foy, is split across two adjoining buildings, one of which, accessed from rue du Portalis, was completely rebuilt in 2008 while the other retains its Haussmanian characteristics. In total, this property comprises c.4,000 sqm of lettable space across 10 floors, two of which are underground, and 25 parking spaces.

In the heart of Paris’ 8th arrondissement, both assets benefit from excellent accessibility with two metro stations in their direct vicinity while Gare Paris-Saint-Lazare, which will remain one of the major transportation hubs in the Grand Paris Project, is just a seven minutes’ walk away.

Jérôme Delaunay, Head of Asset Management & Transactions, France at AXA IM - Real Assets, commented: “Our ability to gain access to such a unique and highly sought investment opportunity in a prime Paris location evidences the expertise of our local team and the reputation it has built up in the market. These two classical properties are aesthetic gems, while their underlying real estate fundamentals and covenant strength leave us confident in our expectations that this will be a high performing investment for our clients.”

– ENDS –

1 Source: INREV/ANREV Fund Manager Survey – May 2017

 

Press Contacts

AXA Investment Managers - Real Assets
Charline Coué, Media Relations Manager
Jocelyne Tamssom, Head of Communications
Tel +33 1 44 45 97 95
PressOfficeAXAIMRealAssets@axa-im.com

FTI Consulting Inc.
Richard Sunderland, Richard Gotla, Ellie Sweeney, Tom Gough
Tél: +44 20 3727 1000
AXAIMRealAssets@fticonsulting.com

Note to editors

AXA Investment Managers is an active, long-term, global, multi-asset investor focused on enabling more people to harness the power of investing to meeting their financial goals. By combining investment insight and innovation with robust risk monitoring, we have become one of the largest asset managers in Europe with ambitions to become the chosen investment partner of investors around the world. With approximately €735 billion in assets under management as of end June 2017, AXA IM employs over 2,450 people based in 29 offices around the world.

AXA Investment Managers - Real Assets has over €71 billion in assets under management, including €54.5 billion in direct property & infrastructure and €13.6 billion in real asset finance as of end of June 2017. We offer a 360° approach to investing in real assets, which comprises opportunities in equity or debt, across different geographies and sectors, as well as via private or listed instruments. We are a global leader in real assets investment, the number one property portfolio and asset manager in Europe(1), and one of the largest worldwide. Our teams have been managing funds and mandates for over 30 years and comprise about 600 people in 15 offices that operate in 20 countries around the world, which provide us with in-depth knowledge of countries, cities and sectors.

 

AXA Investment Managers is part of the AXA Group, a global leader in financial protection and wealth management.

 

Visit our websites:                                www.axa-im.com

https://realassets.axa-im.com

 

Follow us on Twitter @AXAIM / @AXAIMRealAssets to get our latest information

 

1) Source: INREV/ANREV Fund Manager Survey – May 2017

 

 

This document is aimed solely at the media and is for information purposes only. The opinions expressed here are the views of the author and do not constitute investment advice. This is not a recommendation to purchase, sell or subscribe to financial instruments, an offer to sell investment funds or an offer of financial services. This press release is as dated. They do not necessarily represent the views of any company within the AXA Investment Managers Group and may be subject to change without notice. This does not constitute a Financial Promotion as defined by applicable laws and regulation and is for information purposes only.  No financial decisions should be made on the basis of the information provided. Information regarding the background and personnel of AXA IM - Real Assets is provided for information purposes only.

 

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