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.”