515
515
  • Transaction / Assets
    a portfolio of residential properties in Portugal
  • Seller
    Apollo
  • Buyer
    Axa Investment
  • € MM
    200

Apollo Sells Residential Portfolio to Axa for €200 Million

12 February 2020 – AXA Investment Managers has acquired a portfolio of residential properties in Portugal from Apollo for around 200 million euros. The firm finalized the deal for the assets in December and subsequently intends to restore them. Furthermore, most of the properties are located in Lisbon.

Apollo initially acquired the 271 properties from Fidelidade, which is controlled by Chinese firm Fosun in June 2018. The assets sold as part of a larger, €425-million portfolio in what became a highly controversial real estate deal because the tenants were not given an option to acquire their flats.

Original Story: Jornal de Negócios – Rita Faria

Translation/Summary: Richard D. Turner