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28 May 2012

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AXA RE raises E147.5m for development fund

AXA Real Estate Investment Managers has made a second closure in its pan-European Development Venture III, raising an additional E147.5m equity, bringing total amount raised to E377.5m against a final target of E600m. The venture now has a development capacity after leverage and reinvestment of proceeds of up to E1.3bn.

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