(News Bulletin 247) – AXA IM Alts, AXA’s alternative investment subsidiary, announced on Monday that it has acquired the Bry-sur-Marne studios, one of the largest French filming complexes for cinema and television series.
The operation, carried out on behalf of its clients, concerns the purchase from Nexity of a 12-hectare site located between Bry-sur-Marne and Villiers-sur-Marne, nine kilometers east of Paris.
The complex offers approximately 5,600 m2 of studio space, spread over eight floors, ranging from 300 m2 to 1,100 m2, as well as a vast production space of 20,000 m2 including set and costume workshops, offices, and dressing rooms for artists.
In a press release, the insurance giant explains that it plans to more than double its production capacity and eventually make it one of the largest studios in continental Europe.
AXA IM Alts specifies that this is its first transaction in the booming sector of series and film production, but has the ambition to significantly develop its platform of studio real estate assets.
The studio sector is characterized by a shortage of suitable space, accentuated by land constraints in and around major European cities and municipalities, as well as rising energy and construction costs.
France, and Paris in particular, is a world leader in the creation of audiovisual and cinematographic content.
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