Swiss Life AM will act as the asset and investor-developer manager, with its insurance arm retaining a minority equity stake in the 236,000sqm seed portfolio located across the Rhein-Ruhr, Koblenz and Zwickau regions.
Mathias Malzbender, managing director of LaSalle Global Solutions, the indirect investment business of LaSalle, said the investment and partnership was “an exceptional opportunity to expand in one of the most sought-after sectors in Europe”.
Malzbender added: “Swiss Life Asset Managers is a sophisticated and valued partner, and we look forward to building a successful relationship and continuing the success of this portfolio. Given that the German logistics market is among the top-performing in Europe, focusing and expanding in this region has long been a priority for us at LaSalle.”
Per Erikson, head real estate at Swiss Life Asset Managers, said: “We are pleased to partner with LaSalle and create long-term value for our stakeholders. Our unique insights and access to the investment market as well as our development expertise have become a differentiating feature and a competitive advantage.
“I am particularly pleased that our European Logistics platform, headed by Ingo Steves, developed the exclusive seed portfolio for this venture. In LaSalle we have a like-minded and solid partner investing with us in the dynamic and promising European logistics market.”
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