Swiss Life Asset Managers has announced the launch of a new logistics property development arm called Beos Logistics, having committed an initial €100 mln to establish a land bank and fund new projects.
Functioning as a project developer, the new company will sell its developments to Swiss Life Asset Managers investment funds, property firm Beos and third parties.
The new company is based in Berlin and will be led by managing partner Ingo Steves and Hendrik Staiger, member of the executive board of Swiss Life Asset Managers in Germany and member of the board of Beos.
While the company’s development activities will initially focus on Germany, the intention is to expand into other European countries in the near future.
‘We are targeting ambitious growth,’ said Per Erikson, CEO of Swiss Life Asset Managers in Germany. 'The coronavirus pandemic has certainly had a major impact on the logistics market, although demand for logistics space in Europe has been increasing rapidly for years now and has long exceeded the supply of new facilities. This is where we would like to support the market by developing innovative and architecturally attractive logistics as the partner of choice for local authorities and logistics users.’
In addition to large logistics halls and distribution centres, the unit will also redevelop brownfield sites and develop transshipment centres for urban logistics providers. 'As part of Swiss Life Asset Managers, we have the financial muscle to not only implement built-to-suit projects, but also to make upfront investments, hold land and develop without pre-letting. We can acquire attractive plots of land and logistics properties that meet our requirements at very short notice,’ noted Steves.
Prior to his role as managing partner of Beos Logistics, Steves was managing director at GLP and Gazeley. His career in the real estate industry began with WestLB Group, followed by senior management positions with Deutsche Bank and Warburg Group investment vehicles as well as the US REIT Prologis.
