AXA Real Estate Investment Managers SGP, an affiliate of AXA Real Estate Investment Managers, announces that it has completed the acquisition of two separate assets in Southern Europe, located in Madrid and Rome, for a total consideration of €114 mln on behalf of AXA Selectiv’ Immo, a French real estate collective investment undertaking.
The total sum comprises 100% of the Via Paolo di Dono 223 office property in Rome and a 50% stake of the Gran Via 37 retail asset in Madrid, which was acquired in joint venture. These two acquisitions represent the third occasion in the last 12 months that AXA Selectiv’ Immo has invested outside of France, in line with its core strategy to acquire diverse assets across the European market, including office, retail, logistics, hotels and healthcare.
Via Paolo di Dono 223 is a fully-let seven storey, 16,580 m² office property which underwent a €10 mln renovation in 2009 to upgrade both its interior and exterior. The building also includes two basement levels, offering parking for 220 cars and 18 motorbikes. It is centrally located in Rome’s main business district and surrounded by a host of leading international business headquarters, as well as being well served by public transport links and within 1km from the Laurentina Metro Station.
Source: AXA Real Estate