Last updated: 10:03 / Monday, 14 March 2016
AXA CoRE Europe

AXA IM Real Assets Launches a New Pan European Open Ended Real Estate Fund

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AXA IM Real Assets Launches a New Pan European Open Ended Real Estate Fund
  • The open ended fund AXA CoRE Europe has initially raised over EUR 500 million
  • AXA CoRE Europe will seek to provide institutional investors with long-term stable income through the acquisition of Core real estate assets across Europe
  • Over the long term AXA IM - Real Assets aims to grow AXA CoRE Europe steadily into a flagship European fund with a target size of EUR 3 billion to EUR 5 billion

The open ended fund, AXA CoRE Europe has an initial investment capacity close to EUR 700 million and aims to build a highly diversified portfolio of Core European real estate assets, it has already raised over EUR 500 million from a range of European institutions.  

AXA CoRE Europe will seek to provide institutional investors with long-term stable income through the acquisition of Core real estate assets across Europe, capitalizing on individual market dynamics and timing. Over the long term AXA IM - Real Assets aims to grow AXA CoRE Europe steadily into a flagship European fund with a target size of EUR 3 billion to EUR 5 billion.

AXA CoRE Europe was one of the club of investors which AXA IM - Real Assets put together and have agreed to acquire the France’s tallest tower, Tour First in Paris La Défense. This project is in-line with the Fund’s strategy to focus investments on Europe’s largest and most established and transparent markets - UK, Germany and France - while maintaining the ability to invest across the entire continent from Spain to Benelux and the Nordics or Switzerland. AXA CoRE Europe will target mainstream asset classes, primarily offices and retail, and primarily seek investments into well-located assets which have high building technical and sustainability specifications and are let to strong tenants on medium or long term leases. The Fund will also consider selective investments where it can enhance returns by improving occupancy rates and/ or through repositioning works and will also retain a flexibility of allocation which provides for the ability to manage real estate cycles over the long term.

The fund will leverage on the established capabilities of AXA IM - Real Assets to source and actively manage European Core assets in all sectors and geographies by utilizing its unrivalled network of over 300 asset management, deal sourcing and transaction professionals, as well as fund management professionals who are locally based in 10 offices and operating in 13 countries across Europe.

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