(Bloomberg) — When work halted on the Pinnacle tower in the City of London, most investors saw little more than an abandoned site. Axa Real Estate Investment Managers viewed it as an opportunity.

“The foundation exists at this building. This is one thing we like a lot” because it will allow faster completion than rival projects, Pierre Vaquier, chief executive officer at the property unit of Europe’s largest insurer, said in a March 10 interview.

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