Swiss Life KVG, Heusenstamm, this week commenced sales for the open-ended public real estate fund Swiss Life REF (DE) European Real Estate Living and Working (“Swiss Life Living + Working”). The fund, which has been established under German law, focuses on German and European real estate. It invests in the living (residential and health) and working (office and retail) segments. The fund is aiming for a performance of more than 2.5%.
A total of six properties have already been secured for the fund with the help of CORPUS SIREO Real Estate: an office building in Munich, two inner-city properties in Amsterdam (offices), a residential building in Berlin, a residential neighbourhood development in Wolfsburg and a shopping centre in Fürstenfeldbruck. The current investment volume amounts to roughly €103m, with further property acquisitions planned.
Ingo Hartlief, Spokesperson for the Management Board of Swiss Life KVG, says: “The ‘Swiss Life Living + Working’ fund is the first fifth-generation open-ended real estate fund. It sets new benchmarks with its investment strategy in terms of both types of use and geographical orientation. This stabilises rental income, reduces risks and guarantees reliability. Following an intensive period of preparations and market analyses, we are now delighted to be entering the sales phase. For Swiss Life KVG, this is an important step as it sees us enter the private customer segment. What’s particularly special is that we are able to showcase some highly attractive initial investments in the fund right at the start of the sales phase.”
Klaus Speitmann, Head of Sales at Swiss Life KVG, adds: “Following a great many discussions with sales partners and local investment experts, we can safely say that we are launching our product at precisely the right time. In the ongoing low-interest environment, investors are on the look-out for stable forms of investment with solid returns, and open-ended real estate funds have proven themselves in this area in recent years. With this brand-new fund strategy, we are equally making a considerable distinction from our existing products.”
