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AXA buys Apollo’s portfolio for €200M
12 February 2020 | Ana Tavares

AXA Investment Managers purchased at the end of 2019, a housing real estate portfolio, located in Portugal, from Apollo for around 200 million euro.

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The news was reported by Bloomberg, which quotes a spokesman from AXA in London, according to whom the company will now recover and reposition the assets.

The acquisition follows «a long-term investment strategy, which will include an investment program designed to improve the quality of the assets and provide the Lisbon market with an improved real estate stock», quoted Bloomsberg and Negócios.

The assets are mostly located in Lisbon and are part of a portfolio Apollo acquired in 2018. Part of the portfolio Apollo acquired from Fidelidade in June of the same year, consisting of a total 271 buildings, might thus be included.