29 November 2017
Reporter: Jenna Lomax

AXA IM - Real Assets completes Leipzig shopping centre acquisition

AXA IM - Real Assets has completed the acquisition of a shopping centre in Leipzig, Germany, for €132.5 million.

Covering 114,000 square metres across three floors, Paunsdorf is one of the biggest shopping centres in Germany, boasting 170 retail units.

AXA IM - Real Assets will work alongside Unibail-Rodamco Germany to maintain and develop the high occupancy levels, as well as adding to the centre’s commercial potential.

The real estate investor also collaborated with Unibail-Rodamco Germany on the acquisition of Ruhr Park shopping centre, also in Germany.

In June, AXA IM - Real Assets completed the acquisition, on behalf of its clients, of Area Sur, a shopping centre in Spain.

Laurent Jacquemin, European head of transactions for AXA IM - Real Assets, commented: “Paunsdorf Centre is a high quality asset and well located in a city demonstrating strong demographic fundamentals.”

He added: “It is a clear example of a retail-led property which already performs well in its own right but where we, together with our partner, see the potential for further value-enhancing initiatives. Our team has a strong track record in the retail sector and know the Saxony region well so will draw on this expertise as we support the future plans for Paunsdorf.”

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