Norges Bank Investment Management Acquires Stake in AXA Lifestyle Housing
Deal News | Mar 20, 2025 | Norges Bank Investment Management (NBIM)
Norges Bank Investment Management (NBIM) has announced a significant acquisition in the European real estate sector, confirming it has purchased a 40 percent interest in AXA Lifestyle Housing. This entity is the holding company for The Boost Society, formerly known as KLEY Group, which is a major player in the student housing and co-living property sectors in France and Spain. This acquisition is a strategic effort by NBIM to enhance its real estate portfolio within Europe, providing opportunities for long-term growth in a market that is witnessing rising demand for student accommodations and shared living spaces.
Sectors
- Real Estate
- Investment Management
Geography
- Europe – The investment involves real estate properties located in France and Spain, both of which are European countries.
- France – AXA Lifestyle Housing, through The Boost Society, operates student housing and co-living properties in France.
- Spain – Part of the investment includes properties located in Spain, as part of AXA Lifestyle Housing's portfolio.
Industry
- Real Estate – The article involves an acquisition related to real estate, specifically focusing on student housing and co-living spaces, which are a part of the real estate sector.
- Investment Management – Norges Bank Investment Management's role in acquiring a stake falls under the investment management sector, showcasing their strategy of expanding their real estate portfolio.
Financials
- 40 percent – The percentage interest acquired by Norges Bank Investment Management in AXA Lifestyle Housing.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Norges Bank Investment Management | Buyer | Company | A large investment management firm that manages Norway's sovereign wealth fund. NBIM is acquiring a stake in AXA Lifestyle Housing. |
| AXA Lifestyle Housing | Target company | Company | A holding entity for The Boost Society, involved in owning and operating student housing and co-living properties in Europe. |
| The Boost Society (Ex-KLEY Group) | Subsidiary | Company | A subsidiary of AXA Lifestyle Housing, focusing on the student housing and co-living property markets in France and Spain. |