AXA IM Alts disposes of Keiko Tower, a landmark office development in Paris area, to Macifimo
AXA IM Alts, a global leader in alternative investments with c. €162 billion of assets under management1 announces that it has completed the sale of the 26,000 sqm Keiko tower office development in Paris area, with completion set for 2023, to Macifimo, who changes its name and becomes Aéma REIM, part of Aéma Group which intends to establish its headquarters by 2024. The transaction has been made on behalf of clients through AXA IM Alts’ market leading Real Assets platform, which is the leading real estate portfolio and asset manager in Europe2 .
This disposal culminates AXA IM Alts’ successful regeneration of the 40 ares Issy-les-Moulineaux site and follows the development and subsequent sale of 3 residential towers in 2018, as well as Aquarel tower, a 33,000 sqm office building in 2019. These buildings are home to a range of international businesses, and some Aéma Group’s entities will join the likes of other notable global companies in establishing its prominence in the district.
AXA IM Alts has developed the iconic building with a focus on people, wellbeing and sustainability. As such, Keiko tower will offer a range of high-quality services and amenities that reflect how people want to work in the future, including a range of amenities for occupiers, an auditorium, a business center, a restaurant overlooking the Seine, and 750 sqm of terraces across multiple floors, with a rooftop terrace offering a unique 360-degree view of the city. Occupiers will also benefit from generous car and motorcycle parking facilities in the basement, alongside shower and changing facilities, while a c.300 sqm bike park will be built to encourage occupiers to travel to work in an eco-friendly and healthy way.
Spread across 14 storeys, the office has been inspired by ancestral Japanese notions of harmony, incorporating asymmetric glass plates across two wings to create an image reminiscent of the armour worn by the samurai. It will be developed by Sefri Cime, with the architecture designed by Loci Anima Architecture.
The site is located in Issy-les-Moulineaux, south-west of Paris, in the third largest metropolitan district in the city. The area comprises a range of residential and social housing, retail, offices and a plethora of green spaces along the banks of the Seine. Overlooking the river, Keiko tower will offer easy access via a range of public transportation networks and sits adjacent to the Issy-Val de Seine train station. With trains to La Défense and Gare Montparnasse in just 20 minutes by train, the building is also accessible via the metro, bus and RER networks.
Germain Aunidas, Global Head of Developmentat AXA IM Alts said: “Following the successful completion and sale of our other two other developments in Issy-les-Moulineaux, we invested in Keiko tower in recognition that the role of the office has changed, with the workforce of the future now increasingly looking for spaces that prioritise well-being and collaboration, a trend that was emerging even before the pandemic but which has been further accelerated by shifts in working as a result of Covid-19. This disposal demonstrates the sustained appetite by occupiers for sustainable, well-designed offices in prime locations, and allows us to leverage our market-leading development expertise to crystallise the value generated for clients.”
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- Source: AXA IM Alts unaudited data, as at March 2021
- Source: INREV/ANREV Fund Manager Survey - June 2021 - in terms of assets under management
About AXA IM Alts
AXA IM Alts is a global leader in alternative investments with €162 billion of assets under management3 as of 31 March 2021, across real assets (real estate & infrastructure), private debt & alternative credit and private equity & hedge funds. AXA IM Alts employs over 750 people located in 16 offices around the world and serves the needs of more than 350 clients from Europe, North America, Asia Pacific and Middle East. We are a global leader in real assets investment with c. €109 billion of assets under management, the number one property portfolio and asset manager in Europe4 , and one of the largest worldwide.
About AXA Investment Managers
AXA Investment Managers (AXA IM) is a responsible asset manager, actively investing for the long-term to help its clients, its people and the world to prosper. Our high conviction approach enables us to uncover what we believe to be the best global investment opportunities across alternative and traditional asset classes, managing approximately €869 billion in assets as at the end of March 2021. AXA IM is a leading investor in green, social and sustainable markets, managing €555 billion of ESG-integrated, sustainable and impact assets as at the end of December 2020. We are committed to reaching net zero greenhouse gas emissions by 2050 across all our assets, and integrating ESG principles into our business, from stock selection to our corporate actions and culture. Our goal is to provide clients with a true value responsible investment solution, while driving meaningful change for society and the environment. AXA IM employs over 2,440 employees around the world, operates out of 27 offices across 20 countries and is part of the AXA Group, a worldwide leader in insurance and asset management.
- Source: AXA IM data (unaudited). All figures as of 31 March 2021
- Source: INREV Fund Manager Survey, June 2021. #1 largest European managers in total real estate assets under management