AXA Real Estate Investment Managers (AXA REIM) has acquired two recently completed and occupied properties in Kalmar and Vastervikon, Sweden from the Sveafastigheter-managed Fund AEVS Sverige 1 for SEK 348 mln (roughly EUR 34 mln). The acquisitions were made on behalf of AXA REIM's Alternative Property Income Venture (APIV) fund.

Both assets are fully let to the Kalmar County Police and Swedish Prosecution Authority on long-term leases. Debt financing for the transaction was provided by German bank Helaba (Landesbank Hessen-Thüringen).

The Kalmar asset comprises 11,200 m2 of predominantly office space. The property houses the regional headquarters of the Kalmar County Police Authority on a 20-year lease. The Swedish Prosecution Authority holds a 10-year lease on part of the property. Västervik comprises 4,000 m2 and is fully let to Kalmar County Police Authority on a 20-year lease.

AXA REIM carried out SEK 800 mln worth of acquisitions in the Nordics during 2009, according to Stefan Timan, AXA REIM's head of acquisitions in the region.