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Fund disposes office property in France

12 March 2018

The partnership between Norges Bank Real Estate Management and AXA France has signed an agreement to sell Meudon Campus, located on 2-14 rue de la Verrerie in Meudon.

The agreement was signed on 9 March 2018, with completion expected in May 2018.

Norges Bank Real Estate Management will receive 128 million euros for its 50 percent ownership interest. The property was acquired in July 2011 as part of a portfolio consisting of seven properties in and around Paris.

The buyer of the property is a fund managed by PGIM Real Estate.

The property comprises six buildings with a total of 45,000 square metres of office space.

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