Acquisition

11 Dec 2006 09:49

AXA Property Trust Ld11 December 2006 AXA PROPERTY TRUST LIMITED MAKES FURTHER PROPERTY ACQUISITIONS IN EUROPE The Board is pleased to announce that the Company has now contracted to acquirethree properties in Germany and a plot neighbouring one of its existing assetsfor a total commitment of €19.4 million (including acquisition costs). The three property acquisitions comprise of out of town retail warehouses inMontabaur for €11.5 million, Kothen for €4.2 million and Dresden for €3.1million. The plot neighbours the Company's existing property in Kraichtal andwhere the commitment, including extension works, is €0.6 million. These recent acquisitions bring the total contracted and optioned portfolio ofproperties to €175.6 million including acquisition costs, showing a blendedgross acquisition yield of 8.08%. The total contracted and optioned portfoliohas an average lease length, term-certain, of 7.8 years. AXA Property Trust Ltd expects to announce the successful acquisition of furtherproperties in the near future. All Enquiries: The Company Secretary Northern Trust International Fund Administration Services (Guernsey) Limited Tel: 01481 745427 Fax: 01481 745085 This information is provided by RNS The company news service from the London Stock Exchange