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Axa Real Estate strengthens its European portfolio

1 min reading time

Published on 26/06/13 - Updated on 17/03/22

NH Grand Hotel Amsterdam

The real estate company has announced that it has acquired the NH Grand Hotel Amsterdam in Amsterdam for 157 million Euros.

The AXA Real Estate's hotel portfolio has expanded with the acquisition of the NH Grand Hotel Amsterdam in Amsterdam. The European real estate company purchased the property for 157 million Euros. Under the terms of the contract with the Spanish hotel group, NH Hoteles is maintaining management of the institution for a period of 25 years. The two entities have also agreed to launch a renovation program for 38 million Euros. Work is expected to begin in 2014 and end in 2017. Axa Real Estate currently has a portfolio of 101 hotels in Europe, with a total value of nearly two billion Euros.

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