Insurance group Swiss Life has announced that it is teaming up with real estate investment manager Viveris REIM to launch a French Organisme de Placement Collectif en Immobilier (OPCI) investment vehicle for retail investors.
Insurance group Swiss Life has announced that it is teaming up with real estate investment manager Viveris REIM to launch a French Organisme de Placement Collectif en Immobilier (OPCI) investment vehicle for retail investors.
The OPCI SwissLife Dynapierre fund will invest primarily in real estate assets (60%) and financial assets such as listed real estate stocks (30%). SwissLife Immobilier will retain the management of the properties while Viveris will be the fund's manager.
The investment vehicle, which currently has equity of EUR 60 mln, will be marketed through Swiss Life and its private banking arm. It will invest in office, retail, hotel and residential properties in the Parisian region or in the large French metropoles.
Last week Swiss Life announced the purchase of Renaissance, a 12,560-m2 real estate property located at 135 Boulevard Emile Jacqmain Brussels from CBRE Investors for an undisclosed amount. Renaissance is situated in the centre of Brussels, near the Quartier Nord. It includes 10,242 m2 of office space, a 1,830 m2 residential building divided into 16 apartments and 488 m2 of retail space on the ground level.
SwissLife France holds a real estate portfolio estimated at around EUR 1.4 bn and its traditional markets include Paris, the Paris Region, Lyon and Lille.
