NBIM and AXA sell office property in Paris

NBIM and AXA sell office property in Paris

A joint venture between Norges Bank Investment Management and AXA France has agreed to sell the Memphis property located on 109-111 avenue de France in Paris.

The agreement was signed on 27 July 2023, with completion expected by the end of 2023.

Norges Bank Investment Management will receive €65.1 million for its 50 percent ownership interest. The property was acquired by the partnership in 2011.

The buyer of the property is a partnership between LF Grand Paris, Epargne Fonciere and EDF SA.

The property in Paris consists of 14,414 square metres of office space.

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