The JV has acquired warehouses in Phoenix and West Sacramento for $60.5m. : The AXA Investment Managers - Real Assets and Bixby Land Company logistics partnership, set up to buy assets in the Western US, has acquired two properties. The joint venture has acquired a 335,450sqft multi-let industrial warehouse in Phoenix, Arizona and a 387,400sqft fully-let distribution warehouse in West Sacramento, California for a total consideration of $60.5m (€52.5m). Earlier this year, AXA IM - Real Assets and Bixby partnered to buy up to $400m of logistics properties in the Western US.