AXA Real Estate Investment Managers has announced the sale of an office building on Rome's Via Viola on behalf of its frozen AXA Immoselect open-ended fund. The sales price is higher than the asset's market value of around EUR 46 mln and significantly above the price paid by AXA to buy the property back in 2003.

The building offers around 18,000 m2 of office accommodation in the Italian capital city.

AXA said that the disposal lifts by 2% AXA Immoselect's liquidity level to around 12.7%. With a value of EUR 2.5 bn, the fund plans further disposals across a number of European countries in the next months.