axa invests in valencia

AXA Real Estate has announced that, as part of its wider alternatives strategy, it has completed the acquisition of a healthcare development site in Valencia, Spain upon which it intends to build an IMED hospital.
AXA Real Estate will undertake the development, transforming what is currently a c.4,300 sqm plot of land with a completed concrete core into a c.36,000 sqm next generation full-service hospital. This acquisition has been made on behalf of a joint venture between two clients, including a large U.S. Pension Fund and Medical Properties Trust ("MPT"), a real estate investment trust focused on investing in and owning net-leased healthcare facilities.

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