Axa has listed two Spanish companies dedicated to rental housing on the Paris Stock Exchange. The rental housing segment is sparking interest amongst large international investors and Axa itself is planning to continue to invest in it. In this case, the French insurer has placed the portfolio of homes it acquired from Testa, the Socimi owned by Blackstone, into the two vehicles. The portfolio is worth 288 million euros, according to Cinco Días.
In April 2022, Axa purchased approximately 740 rental homes from the largest residential rental Socimi, Testa, for 285 million euros. For its part, Blackstone, one of the largest real estate funds in the world, sold those assets as it considered that they were mature, with a high occupancy rate.
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