PARIS, Nov 7 (Reuters) - AXA Investment Managers said it would buy up some U.S property assets, including the management of $9.4 billion of U.S. commercial mortgage loans, from Quadrant Real Estate in a deal that strengthens AXA’s position in the real estate sector.
As part of the transaction, 24 members of Quadrant, including five of the founding partners, will join the AXA IM- Real Assets division.
“The acquisition, of this market leading U.S. team together with the significant commercial real estate senior loan mandates, will enable us to expand the leadership of our real estate debt platform from a European to a global level,” said AXA IM chief executive Isabelle Scemama.
AXA IM is the asset management arm of French insurance group AXA, which on Tuesday reported higher 9-month revenues. (Reporting by Sudip Kar-Gupta; Editing by Inti Landauro)