Euromoney Liquid real estate March 2007
Merrill Lynch and Axa Real Estate Investment Managers’ first French property derivatives swap was most likely a five-year deal with a notional size of substantially more than €20 million, Liquid Real Estate has learned.
The deal, the first continental European swap, carried out in December, was not revolutionary in its structure but its size highlights the market’s increasing breadth.
The trade was based on the Investment Property Data (IPD) France Offices Annual Index.
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