EUROPE - AXA Real Estate Investment Managers (AXA REIM) has purchased one of Budapest's best-known class A buildings as part of a client-driven move to expand its services into central Europe.
AXA REIM said the acquisition of the Dorottya Udvar office complex was made on behalf of an institutional investor client with a pan-European mandate.
Commenting on the transaction, AXA REIM’s global head of business strategy, Roddy Sloan, said: “AXA Real Estate Investment Managers is a very major real estate fund manager with over 20bn euros of real estate assets under management.
“The majority of these are currently located in western and southern Europe and we think it’s entirely logical to expand our geographical coverage into central Europe.”
Earlier this year, the company announced their intention to develop geographic coverage selectively in response to client demand.
“This transaction is part of that policy,” Sloan said.
“We are delighted to have closed one of Hungary’s largest real-estate transactions this year and are now actively seeking further investment opportunities in all of the Czech Republic, Hungary and Poland.”
With more than 350 staff operating in ten countries, AXA REIM is one of Europe’s largest and most diversified real estate investment management businesses.
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