Insurance Post

Axa raises €2.5bn to invest in the European property market

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French insurer Axa will invest up to €2.5bn in the development of green and brownfield sites and existing properties which require extensive redevelopment across the continent, to exploit the gap left by banks in the property lending market.

The real estate arm of the French insurer, has closed of its pan-European development fund, Development Venture III, having raised €588.5m of total equity. DVIII, which will have up to €2.5bn of

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