AXA Investment Managers
Matthias Leube - AXA Investment Managers Deutschland
‘The fragmented development market in Germany provides for significant growth opportunities,’ he added. Michael Tockweiler, CEO of SSN, described the deal as providing his firm with ‘excellent access to financing and allows us to continue to build on our strong financial base’.
AXA Investment Managers – Real Assets (previously known as AXA Real Estate) said recently that it has already transacted €756m of real estate deals in Germany in the first nine months of this year, underlying the attractions of Germany to the real estate manager's myriad French clients looking for core assets.
The investment arm of French insurer AXA has been involved in some of this year's biggest German deals across all asset categories – office, retail, logistics and hotels – along with or on behalf of many of Europe's biggest investors through funds, joint ventures or third-party mandates. The group made €233m worth of disposals in Germany over the period.
On the buying side, AXA Investment Managers – Real Assets completed deals totalling €533m over the period, including:
• A 35% stake in Ruhr Park Shopping Centre, as part of a joint venture with Unibail-Rodamco, on behalf of AXA Selectiv' Immo, a French regulated fund, and an AXA Insurance Company. The 35% stake was acquired from Perella Weinberg Real Estate Fund I LP for €231 million.
• The Twenty 8 office building in Munich city centre, comprising 4,864 sqm of prime lettable space, approximately 12% of which holds retail, from Deka Immobilien.
• The Elisenhof office complex, a mixed-use, multi-tenant property in the city centre of Munich, acquired on behalf of AXA Insurance Companies from Tishman Speyer.
The group has also got permission for and has been working on a major redesign of the familiar office complex Die Welle, situated in the heart of Frankfurt behind the Alte Oper, which it bought in 2012.
Matthias Leube, managing director for real assets at AXA Investment Managers Deutschland said the firm would continue to build its profile in Germany with deals in alternative sectors including healthcare assets, data centre and hotels taking its total transaction activity to €756m.
AXA IM - Real Assets controls close to €62bn in assets, including €49bn direct property and infrastructure and €11.5bn in real estate finance.
