In August 2019, Sirius completed the ‘Titanium’ joint venture (JV) with AXA Investment Managers – Real Assets (AXA IM – Real Assets). You can read more about the detail of the JV here.
The JV allows Sirius to accelerate delivery of our strategy. In previous years Sirius has focused solely on acquiring opportunistic assets, and whilst that has continued, because of the JV we have also been able to buy stabilised properties with lower vacancies and some new build potential.
With access to greater levels of capital, Sirius can now increase its volume of transactions, and complete transactions of greater size and value. Typically, we have purchased single assets, but now we are also able to purchase portfolios. There’s also a slight shift in the value of the assets we now consider. Generally, we want to stop buying assets that are going to be worth less than €10 million and increase the average value of assets we own to more than €20 million per asset. We will continue to focus primarily on out of town mixed-use light industrial assets and offices.