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Norway's sovereign fund, AXA France to sell Paris property

A partnership between Norges Bank Real Estate Management and AXA France struck a deal to sell an office property at 31-33 Rue de Verdun in Suresnes, Paris, for an undisclosed sum.

However, Norges Bank, which manages real estate investments for Norway's sovereign fund, said it would receive €63.25 million for its 50% stake in the asset, implying a total sale price of €126.5 million. The sale is expected to close at the end of April.

The property encompasses 24,000 square meters of office space and was acquired by a unit of M&G European Property Fund SICAV-FIS.