AXA Investment Managers – Real Assets has bought a portfolio of 17 healthcare assets in western Germany from real estate funds managed by Blackstone for €310m (£262m).
The deal was for a consortium of investors consisting of AXA insurance companies and two retail funds, AXA Selectiv’ Immo and AXA Selectiv’ Immo Service(2).
The 1.9m sq ft portfolio consists of 16 freehold nursing homes and one rehabilitation centre, with 2,788 beds in total.
This transaction extends AXA IM – Real Assets’ healthcare portfolio to more than €850m across Europe.
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