AXA Real Estate Investment Managers UK is pleased to confirm that they have been appointed as manager of the £2.5 billion Co-Operative Insurance Society (CIS) property portfolio.
In one of the UK's single largest property fund management outsourcing deals, AXA REIM will manage approximately 160 individual assets ranging from high-street retail outlets to office and logistics sites.
Commenting on the mandate win, Steve Smith, Managing Director, AXA REIM UK said: "We are delighted to have been selected by CIS to manage their extensive property portfolio. The transfer of assets was extremely complicated and AXA REIM worked closely with CIS throughout the process to meet with the Society's investment objectives whilst maintaining its recognised position as a leader in Socially Responsible Investment. We look forward to a successful working relationship with CIS and to the delivery of performance in line with client expectations."
Paul Marcuse, Global Chief Executive of AXA REIM further commented: "We are very grateful to CIS for placing their trust in us. The award of this mandate is further testimony to the performance track record of the AXA REIM UK team, and more generally to the progress AXA REIM has made in focussing its business on being responsive to the needs of our Clients."
Source: AXA REIM