AXA IM Alts buys German R&D facility for €124m
AXA IM Alts has purchased a research and development (R&D) facility located on the RWTH Aachen University Melaten Campus in North Rhine-Westphalia, Germany.
The asset has been acquired from a European commercial real estate company for €124 million ($143 million), and the purchase has been made on behalf of clients through AXA IM Alts’ Real Assets platform, a leading real estate portfolio and asset manager in Europe. This acquisition forms part of AXA IM Alts’ European core diversified open-ended real estate strategy, which now exceeds €5 billion ($5.8 billion) of assets.
Known as The Rocks – Aachen, the asset, which was constructed in 2017, comprises 28,000 square meters (301,389 square feet) of office and R&D space, alongside a 554-space multi-story carpark and a 3,900-square-meter (41,979-square-foot) adjacent development site.
The Melaten Campus is a major national hub for innovation and growth and home to more than 50,000 students who live