Archive for June, 2013

AXA Real Estate agrees to acquire Catalunya portfolio for €172 million

Tuesday, June 25th, 2013

AXA Real Estate Investment Managers (“AXA Real Estate”), the leading real estate manager in Europe with €45 billion of assets under management as of March 2013, announces that it has agreed to acquire a portfolio of up to 13 government-let office buildings in Barcelona, as part of a sale and lease back transaction with the Generalitat de Catalunya (the “Generalitat”) for €172 million. The acquisition of 11 of the properties is expected to complete on Friday, 28 June 2013, while the remaining two are subject to further due diligence and expected to close in the middle of July. This is AXA Real Estate’s first Spanish office acquisition since the financial crisis in 2008 and has been made on behalf of the AXA insurance companies.

For information on real estate transactions in Spain contact: i-comparables.com