German JV set up by Sirius with AXA IM-Real Assets

German JV set up by Sirius with AXA IM-Real Assets

Published at: 2019-03-04 10:47 | Author: CIJEurope.com
Sirius Real Estate and AXA Investment Managers - Real Assets have joined forces to form Titanium, a joint venture that will specialize in German business park investment. The deal involves AXA IM buying a 65 percent stake in five of Sirius Real Estate’s business parks that are valued at around €168m and offer a total of 191,000 sqm of space. “The formation of this relationship represents an important opportunity for both parties and it will give Sirius key advantages in an increasingly competitive market and through the real estate cycle,” said CEO of Sirius Real Estate Andrew Coombs. John O’Driscoll, head of European transactions for AXA IM- Real Assets says the importance of the assets in this area of Germany is “actively growing.” Overall, AXA IM- Real Assets is putting €43.9m of its own cash into the venture, which will result in a €70m windfall for Sirius

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