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Report: Frankfurt office complex on the block for €550M

AXA Investment Managers SA and Norges Bank Investment Management are aiming to sell an office complex they jointly own in Frankfurt for roughly €550 million, Bloomberg News reported, citing people familiar with the matter.

The AXA unit and the Norwegian sovereign wealth fund acquired the property, known as Die Welle, in a 50/50 joint venture in 2012.

Tenants at the property include Citigroup Inc. and law firm Latham & Watkins LLP.

Neither of the partners commented on the planned sale, according to the March 14 report.