French asset manager Swiss Life REIM has announced the launch of its second student housing fund, targeting a volume of €150 mln.
French asset manager Swiss Life REIM has announced the launch of its second student housing fund, targeting a volume of €150 mln.
'This first closing completed with institutional investors will allow us to position ourselves on already identified student housing projects,' said Alfred de Crépy, manager of the OPCI.
The company's first fund completed its investment programme at the end of 2014.
'While cap rates are compressing, this strategy, already attracting investors thanks to its defensive profile, becomes very interesting in terms of yield, with a risk premium higher than traditional housing and CBD office sector,' added Frédéric Bôl, CEO of Swiss Life REIM (France).
The fund will focus on the acquisition of off-plan and, to a lesser extent, existing student housing assets located in main student cities in France, but also in Belgium, the Netherlands and Germany.
Founded in 2007 and managed by Frédéric Bôl, Swiss Life REIM (France) is the subsidiary of the Swiss Life group for real estate asset management for third parties. Formerly known as Viveris REIM, it has €5.6 bn of assets under management.
