LONDON-AXA Real Estate has been busy of late and the latest transaction is a bell-ringer. The investment manager has just sold a little under (US) $156 million in retail assets to Tredje AP-fonden, a Swedish state-owned pension fund.

The sale amounts to nearly 1.4 million square feet of retail, leased in large part to two undisclosed Swedish food retailers. In gfact those two mystery retailers account for 80% of the assets’ income.

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