Europe Real Estate June 25 2013
AXA Real Estate announced 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 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.
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AXA Real Estate acquires Barcelona office portfolio from Generalitat de Catalunya
