The MAPFRE and Swiss Life joint real estate investment fund has acquired nine buildings in Paris for €300 million ($334 million).
MAPFRE will channel a further €500 million ($557 million) into alternative investments, on top of the €550 million ($612 million) already committed.
The vehicle was set up for joint real estate investments by MAPFRE and SWISS LIFE France in 2018 to invest in prime office space in and around Paris.
It has completed its first operation.
Specifically, both partners have invested a total of €296.1 million ($329.65 million), split down the middle, in nine buildings across the French capital. Total office space comes to 22,000 square meters (236,806 square feet), making it the largest investment undertaken by MAPFRE in the French real estate market.
The buildings are located in key areas of Paris: 10 and 12 avenue de Messine; 51 rue d’Anjou; 112 and 114 rue la Boétie; 150 boulevard Haussmann; 43 rue Liège; and four
