Transactions - MAY 15, 2014

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IN-DEPTH: AXA JV pays €475m for office building in Belgium

by Andrea Waitrovich

AXA Real Estate Investment Managers, with its joint venture partner ATP, has acquired the shares of the company owning the North Galaxy, a prime office building in Brussels, from Cofinimmo SA.



The sales price was €475 million, or €420 per square foot ($658.8 million/$583 per square foot). Goldman Sachs represented the seller.

“This is a key transaction for AXA Real Estate this year, and it marks the beginning of [a] new and long-term partnership that we have been able to facilitate for our clients,” Pierre Vaquier, CEO at AXA Real Estate, said in a statement.

ATP will own 9

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