MAPFRE and SWISS LIFE to set up a co-investment solution for prime office locations
Swiss Life and MAPFRE will establish a real estate vehicle in the coming months that will invest in the prime office locations of the main French cities and will be managed by Swiss Life Asset Managers, Real Estate France.
MAPFRE is the largest multinational insurance company in Latin America and benchmark insurer in Spain. Swiss Life has more than 160 years of experience and is one of Europe’s leading comprehensive life, pensions, and financial solution providers.
Swiss Life Asset Managers is one of the leading pan-European real estate asset managers with €69.2 bn of managed assets as of the end of 2017 (including asset management for third parties). It covers all asset management activities of Swiss Life Group.
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 of equity, and the objective is to achieve returns of between 4% annually within a period of one to two years.
Swiss Life will seed the vehicle with 2 assets. This initial investment of €75 million consists of two typical “Haussmann” buildings located in 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 of MAPFRE's strategy to diversify its portfolio against other types of financial assets and gradually increase its alternative investments.
About Swiss Life Asset Managers, Real Estate
Swiss Life Asset Managers is one of the leading1 real estate investor in Europe (€69.2 bn of AuM as of end of December 2017). Investments are covering all Europe with local teams in 5 countries: Switzerland (Swiss Life Asset Management Ltd.), Germany (Corpus Sireo), France (Swiss Life REIM France), Luxembourg (Swiss Life Fund Management LUX S.A.) and UK (Mayfair Capital).
About Swiss Life REIM (France) et Swiss Life Asset Managers, Real Estate France
Swiss Life Asset Managers, Real Estate France, is represented by Swiss Life REIM (France), an AIFM real estate management company founded in 2007 by Frédéric Bôl. The company is responsible for the investments in France, Belgium, Luxembourg, Portugal, Spain and Italy. The French teams combine real estate, legal and financial skills to offer tailored solutions to institutional and retail investors. Assets are managed in all asset classes (offices, retail, housing, logistics, student homes, healthcare and hotels). Swiss Life REIM (France) is also a pioneer on the French OPPCI market.www.swisslife-reim.com
MAPFRE is a global insurance company with a worldwide presence. It is the benchmark insurer in the Spanish market and the largest Spanish multinational insurance group in the world. The company is 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 totaled almost 28 billion euros, with net earnings of 701 million euros. http://noticias.mapfre.com/en/
Swiss Life REIM (France):
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Direct dial : +33 (0)4 91 16 34 86
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Mapfre Corporate Communication:
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