AXA REIM has completed the acquisition from hotel group Accor of the first tranche of a portfolio of 57 hotels in France and Switzerland. The transaction stems from an agreement signed by AXA REIM and Accor in December 2007. AXA REIM was acting on behalf of a consortium of investors including French bank Caisse des Depots et Consignations and AXA's investment funds European Hotel Venture (EHV) and Alternative Property Income Venture (APIV).
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