Swiss Life Asset Managers has launched a new German real estate fund, SL REF (DE) Key Regional Cities Germany, according to news sources.
The fund’s investments will focus on office properties with an ABBA investment strategy in up to 26 selected German cities that offer stable values and returns. The fund is expected to be worth €250 million ($296 million).
With the help of CORPUS SIREO Real Estate, two properties have already been secured for the fund, which include the Sheridan Tower in Augsburg and the office building on Munzingerstrasse 5/5a in Freiburg. Both purchase prices were not disclosed.
The fund is still open to institutional investors, according to Johannes Slabik, the fund’s portfolio manager.
The new fund launch comes after Swiss Life decided in November 2016 to expand its activities in the German market for real estate funds. In additional news, the firm previously launched Swiss Life REF European Real Estate Living and Working, an open-ended mutual property fund targeting European real estate.
