AXA tie-up puts Sirius Real Estate on a path to growth
German property owner Sirius has joined forces tied up with AXA Investment Managers
Sirius Real Estate which is the only German-focused property stock on the JSE, says it looks set to double its asset base in that country in about two years following a tie-up with one of the world's largest asset managers. The joint venture has set Sirius on a new growth path and the company now wants to double its asset base from €1bn to €2bn in a maximum of two years, because it has partnered with AXA Investment Managers, an investment manager which already manages €730bn worth of assets across the world, and which is enabling it to bid for larger deals. The join venture is called Titanium, and it was established in February. The venture has already acquired €230m (R3.65bn) worth of assets in just two months. Sirius, which is also listed on the London Stock Exchange and invests in flexible office space and storage facilities in the world's fourth-largest economy, released a trading statement for the year to March on Monday in which it detailed its progress in working with AXA....
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.