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AXA Investment Managers - Real Assets buys Pfizer's French HQ

AXA Investment Managers - Real Assets completed its acquisition of the 11-story Rives de Paris office asset in Montrouge, France, from pharmaceuticals giant Pfizer in a sale and leaseback deal.

The acquisition, financial terms of which were not disclosed, was completed on behalf of AXA Selectiv' Immo, a retail fund that now manages assets worth over €2 billion on behalf of French retail investors.

Pfizer is the primary tenant of the property, which spans approximately 20,000 square meters, and has used the building as its headquarters since 2001.