Norges Bank Investment Management Acquires Stake in AXA Lifestyle Housing

Deal News | Mar 20, 2025 | Norges Bank Investment Management (NBIM)

Norges Bank Investment Management Acquires Stake in AXA Lifestyle Housing

Norges Bank Investment Management (NBIM) has agreed to acquire a 40 percent interest in AXA Lifestyle Housing, which holds The Boost Society, formerly known as KLEY Group. This acquisition involves integrated ownership and operation of student housing and co-living properties located in France and Spain. The investment marks NBIM's strategic move to enhance its real estate portfolio within Europe, focusing on the growing demand for flexible living spaces in urban settings, especially targeting the student and co-living segments.

Sectors

  • Real Estate
  • Investment Management

Geography

  • Europe – The investment is centered around real estate assets located in France and Spain, signifying a European geographical focus.
  • France – Part of the real estate properties, including student housing and co-living spaces, are situated in France.
  • Spain – Part of the real estate properties, including student housing and co-living spaces, are situated in Spain.

Industry

  • Real Estate – The acquisition directly involves real estate as it pertains to the ownership and management of student housing and co-living properties within France and Spain.
  • Investment Management – Norges Bank Investment Management operates within this sector, focusing on strategic growth in its real estate portfolio through investments such as this one.

Financials

  • 40 percent – The stake acquired by Norges Bank Investment Management in AXA Lifestyle Housing.

Participants

NameRoleTypeDescription
Norges Bank Investment Management (NBIM)InvestorCompanyNBIM is responsible for managing the investment and has agreed to acquire a stake in AXA Lifestyle Housing.
AXA Lifestyle HousingTargetCompanyAXA Lifestyle Housing holds The Boost Society, an operator of student and co-living properties, which NBIM is investing in.
The Boost Society (Ex-KLEY Group)Property OperatorCompanyFormerly known as KLEY Group, this entity operates the student housing and co-living properties that are part of the investment deal.