Publications

MAPFRE and Swiss Life establish French office real estate fund
Fundraising - MARCH 16, 2018

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

MAPFRE and Swiss Life establish French office real estate fund

by Andrea Zander

Swiss Life and Spanish insurance firm MAPFRE have plans to establish a real estate vehicle to invest in prime office assets in major French cities, which will be managed by Swiss Life Asset Managers, Real Estate France.

In France, Swiss Life Asset Managers, Real Estate, is represented by the AIFM Swiss Life REIM (France), which will be the management company of the new vehicle.

This vehicle will invest in prime offices in the main French cities with a first size target of up to €150 million ($184 million) of equity, and the objective is to achieve returns of between 4 percent annually within a period of one to two years.

Swiss Life will seed the vehicle with two assets. This initial investment of €75 million ($92 million) consists of two typical “Haussmann” buildings located in the Paris CBD. Other investments are planned, and MAPFRE has the intention of moving quickly in order to invest significantly in pan-European real estate.

This move is part

Forgot your username or password?