In 2008, AXA Real Estate Investment Managers (AXA REIM) completed 5.7 billion of transactions on behalf of its clients. Investments worth around 3 billion and 2.7 billion in disposals were completed on behalf of the various funds managed by AXA REIM.
Major acquisitions completed in 2008 included:
- Rivas Futura retail park in Spain by ERIV II
- 57 Accor hotels portfolio in France and Switzerland by EHV and APIV
- Marseille Clinic Portfolio in Germany by APIV
- Rodamco logistics portfolio in Spain, Perspective Défense office property in Paris, France and first part of the Stora Bernstorp retail park in Sweden by AXA Immoselect
- Gazeley logistics portfolio in France, Hitachi Power office property in Duisburg, Germany and Sovereign House office property in London, UK by AXA Immosolutions
- Vespucci House office property in Hamburg, Germany by AXA REAL INVEST II
Major sales in 2008 included:
- St. Jakobs Park Soccer Stadium in Basel, Switzerland
- Batigere residential portfolio, France
- Logement Français residential portfolio, France
- Rue du Rocher office property in Paris, France
- Castel Guelfo factory outlet in Bologna, Italy
- La Illa office property in Barcelona, Spain
Other activities included the development of a Solar Power Station on the roof of a logistics building under construction in Fos sur Mer, France. The generation facility which is composed of 10,700 photovoltaic panels will deliver 1,677 MWp of electricity, making it one of Europe's most powerful and innovative solar power plants on delivery in July 2009. This plant will provide energy for about 800 households, and is predicted to produce a reduction of carbon dioxide emissions of 244 tonnes over a 20-year period.
Pierre Vaquier, CEO of AXA REIM said "We have completed 29 billion of transactions in Europe during the past five years on behalf of our over 130 institutional clients and have reviewed more than 300 billion property deals over the last three years. This demonstrates that we are well placed to access superior transaction volumes on behalf of our clients."
Pierre Vaquier continued "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."
Source: AXA Real Estate Investment Managers