AXA IM-Real Assets has acquired a portfolio of 39 mostly logistics assets in five European countries from Gramercy Property Europe for approximately €1bn. The transaction has been made on behalf of AXA Insurance Companies and AXA CoRE Europe(2), a pan-European open-ended real estate fund. The portfolio is fully leased and includes assets in Germany, the Netherlands and France, with a 10-percent holding in the UK and Poland. The portfolio includes logistics (86.5 percent) assets as well as retail, car dealerships and office assets.
