16 Mar 2006 09:16
AXA Property Trust Ld16 March 2006 AXA PROPERTY TRUST LIMITED MAKES A FURTHER PROPERTY ACQUISITION IN EUROPE AXA Property Trust Limited announces that it has contracted to acquire an out oftown retail complex in Bernau near Berlin, Germany for €8.4 million. The property is well let to good covenants, and the purchase shows a net initialyield of over 8 per cent. This acquisition further enhances the portfolio thatthe Company has been building since its launch last May. The Company has alsosecured options to acquire two further properties for approximately €11 million,taking the total value of contracted properties or properties under option toapproximately €103 million since launch. This is one of a number of new transactions which AXA Real Estate InvestmentManagers has agreed on behalf of the Company, which expects to meet its targetof being fully invested by mid 2006. AXA Property Trust's preliminary results for the half-year to the end ofDecember 2005 are expected to be announced on the 23rd of March 2006. This information is provided by RNS The company news service from the London Stock Exchange