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Transactions - JUNE 1, 2016

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AXA acquires U.K. property for core Europe fund

by Zoë Wolff

AXA Investment Managers – Real Assets has acquired the Asticus Building in London for £80 million ($116 million) from Aberdeen U.K. Property Fund, according to a statement. The property was purchased on behalf of AXA CoRE Europe Fund.

The 60,731-square-foot office property is home to a number of tenants, including Dubai Holding, Work Foundation, Alchemy Partners and Business Growth Fund, according to Real Capital Analytics. The 10-story building was acquired by Aberdeen in 2007 for £101 million ($146 million).

This is the first U.K. acquisition for the AXA fund, which focuses on core real estate assets across Europe. Earlier this year, the fund purchased Tour First in Paris, France’s tallest office tower. 

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