Swiss Life Asset Managers has launched a real estate fund focused on 26 regional cities in Germany, via its German subsidiary Swiss Life KVG.
SL REF (DE) Key Regional Cities Germany is a German special fund for institutional investors in Germany. The fund is expected to be worth up to €250 mln based on investments in selected German cities than can offer stable values and returns.
The fund will be guided by the ABBA investment strategy in German regional centres, properties in B locations in one of the top 7 A cities or in A locations in B cities. This is also aimed at diversifying the geographical position (up to 26 office locations), type of use, size and age of investments with a focus on multi-tenant properties predominantly for office use.
Two properties have already been secured for the fund with the help of Corpus Sireo Real Estate, also part of Swiss Life AM. The assets are the Sheridan Tower in Augsburg and the office building on Munzingerstrasse 5/5a in Freiburg. The financial details were not disclosed.
Johannes Slabik, fund portfolio manager, said: 'The fund enjoys good cash inflows and is still open to additional investors.'
'We got off to an excellent start with the first two acquisitions and will continue expanding the portfolio step by step,' he added.
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Image: Sheridan Tower in Augsburg
