Amundi Real Estate saw its AUM rise to €9.2bn by the end of 2014 following year in which its overall transaction volume hit €1.7bn across both its domestic market France and internationally.
The transaction volume was up 40% on the previous year. Acquisitions worth €1.5bn were made on behalf of the funds managed, with €1.1bn of this linked to 56 properties in France, and €400m linked to 21 properties across Spain, Germany, UK, Italy and Morocco.
By type, commercial property dominated the acquisitions, accounting for 63 assets worth €1.45bn. A further €50m was invested in residential programmes in France “for Malraux-type REITs and for tax deduction purposes,” the manager said.
The Amundi Real Estate retail Open-ended Real Estate Fund (Oref) doubled its subscriptions to more than €450m, and invested in France, Germany and the UK.