The Axa Real Estate Caesar fund has recently invested €32.2m in its first purchase of a Luxembourg property. This is part of a €326.5m investment across Europe.
The Monnet 6 building located in Kirchberg is part of their investment strategy of buying well rented, prime office structures around key financial districts in major European financial cities.
Guy Van Wymersch, head of Benelux at AXA Real Estate, said the Kirchberg district was characterised by a “remarkably low vacancy rate of 1.8% and strong rental growth, appealing to an increasing number of international companies”.
Commitment by Axa to a new fund has also been made, an Italian fund which can invest abroad, with an initial investment limit of €350m, up to a cap of €700 could see substantial investment in real estate across Europe.
IP Real Estate 06/01/2015