A real estate co-investment vehicle formed by MAPFRE and entities of the Swiss Life Group in 2018 to invest in prime offices in Paris has added a new building to its portfolio.
The 7,200 m2 property, located at 73 Boulevard Haussmann, comprises mainly offices with retail units at ground level, and is leased almost entirely to 16 tenants.
Financial details were not disclosed.
Swiss Life Asset Managers France set up a co-investment fund with MAPFRE in 2018. The fund is managed by Swiss Life Asset Managers France and this last acquisition sees it reach the €500 mln milestone as of today.
In addition to this project, MAPFRE and other Swiss Life Group companies created a pan-European co-investment vehicle two years ago to invest in the real estate market, which was seeded with assets valued at €400 mln and located in Spain, Belgium and Italy.
MAPFRE’s real estate sector transactions are handled via MAPFRE Inmuebles. Since 2018, several funds have been launched with leading partners in the market and the strategic focus remains the same, to seek out prime real estate in the most prestigious areas of European capitals.
