French insurer AXA Real Estate is taking part in a consortium that is bidding for EUR 1.8 bn worth of property from Siena-based bank Banca Monte dei Paschi di Siena (MPS). Under the sale-and-leaseback plan, the Italian bank would retain a 30% stake in the portfolio with the rest split between Italian property company Sansedoni (40%), AXA Real Estate (20%) and investment bank Mediobanca (10%).
Ares, Coima and MEAG are three investors which have closed multiple acquisitions in the last few weeks.
