Swiss Life Asset Managers has raised more than €200m and acquired three properties in Germany for its European Industrial & Logistics Fund.

The fund, launched in September, aims to create a diversified porfolio of industrial and logistics assets, with a particular focus on Germany and France.

It has bought a business park in Karlsfeld, near Munich, a logistics property in Bremen and a business park in Böblingen, near Stuttgart.

Swiss Life said there were benefits to combining “the highly diversified rental income and flexible use of industrial real estate” with the “earnings strength and strong demand for logistics assets”.

Marius Würgler, head of sales and marketing at Swiss Life Asset Managers, said: “The success of the first subscription period emphatically confirms the confidence among our investors and underpins the demand for innovative concepts in an emerging asset class – especially in the challenging environment surrounding COVID-19.”