MAPFRE is set to launch a co-investment real estate vehicle to invest in prime offices in a number of Europe’s main markets. The objective is to achieve returns of between 4% and 6% annually, while at the same time diversifying the portfolio against other types of financial assets. This move is part of the company's strategy to gradually increase its portfolio of alternative investments.
MAPFRE has partnered with real estate expert GLL to invest up to 300 million euros in prime office space in the Eurozone’s key markets within two or three years. The investment focus will be large cities in Germany and France, as well as other nearby markets such as Amsterdam, Brussels, Milan and Luxembourg.
The vehicle, which is open to other institutional investors from the insurance world, will be managed by GLL, which is one of the main investors in office buildings for insurance companies. The company has an asset volume of €7 billion, and a team of more than 110 professionals, with offices in 12 countries.
MAPFRE already has a portfolio of unique real estate properties in Spain, such as Plaza de la Independencia in Madrid, Torre MAPFRE in Barcelona, and other emblematic buildings in different countries, such as Torre MAPFRE, in the Paseo de la Reforma in Mexico City, and One Winthrop Square building in Boston.
Notes to Editors
MAPFRE is a global insurance company with a worldwide presence. It is the benchmark insurer in the Spanish market, the main multinational insurer in Latin America and one of the Top 5 largest Non-Life European insurers by premium volume. MAPFRE employs more than 36,000 professionals and in 2017 MAPFRE’s revenues totalled almost 28 billion euros, with net earnings of 701 million euros.
MAPFRE AM is a specialist in long-term savings solutions, with close to 60,000 million euros in managed assets worldwide. It has an investment team of more than 150 professionals who manage assets in 26 countries around the world. Its main areas of expertise are sovereign and corporate fixed income with an investment grade, and global equities with a value approach.
For more information, https://noticias.mapfre.com/en/
John Morgan Sam Shelton
Fortuna Asset Management Communications Fortuna Asset Management Communications
Tel: 07769 262272 Tel: 07540 336998