Norges Bank Investment Management has signed a co-investment programme with AXA Real Estate, acting on behalf of various AXA insurance companies, targeting investments in senior secured performing commercial real estate loans in Europe. AXA Real Estate will manage the portfolio on behalf of the parties.
NBIM and AXA Real Estate have formed a joint venture that will target large size senior loan investments, of up to €600 million, with a primary focus on the United Kingdom, France and Germany.
The partners will invest mostly in primary issuances of commercial real estate loans.
The approach to this real estate debt program is similar to the fund’s existing real estate investment strategy and philosophy. The joint venture will allow NBIM to achieve two main objectives: (i) invest in commercial real estate debt, and (ii) invest alongside an experienced team with balance sheet capacity and long term investment horizon.
Press contact:
Marthe Skaar
Advisor, Communications & External Relations, NBIM
Tel. + 47 9261 7663 or e-mail: presse@norges-bank.no