13 Feb 2006 07:30
AXA Property Trust Ld13 February 2006 AXA PROPERTY TRUST LIMITED MAKES FURTHER PROPERTY ACQUISITIONS IN EUROPE AXA Property Trust Limited announces that it has contracted to acquire 3properties for approximately €38 million. These are a major distributionwarehouse in Northern Italy, a shopping centre in Southern Germany and a foodsupermarket in Berlin. These properties are well let with an average lease length of approximately 5.5years. The properties show a net initial yield of approximately 6.9 per cent.Their acquisition further enhances the portfolio that the company has beenbuilding since its launch last May. AXA Property Trust Limited expects to announce the successful acquisition offurther properties in the coming weeks. In an improving market, the Real EstateAdviser's European network of offices is delivering a good range of suitableopportunities for the company. All Enquiries: The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar CourtLes BanquesSt Peter PortGY1 3QL Tel: 01481 745338Fax: 01481 745085 This information is provided by RNS The company news service from the London Stock Exchange