Swiss Life KVG, in cooperation with BEOS AG, has purchased the "Laetitia" portfolio consisting of 32 commercial properties spread across numerous locations throughout Germany. The vendor is Aurelis Real Estate. The parties have agreed not to disclose the purchase price.
The portfolio of a corporate real estate with primarily office, logistics and production space comprises a total of c. 538,000m² of rental space, 95% of which is let. The tenants with strong credit ratings include well-known corporations and medium-sized companies. The weighted average remaining lease term is more than five years. The properties are located primarily in the top 7 locations, but also in secondary cities such as Hanover.
"With this portfolio acquisition, we have already invested a significant part of the planned fund volume of €1.1bn. The portfolio fits in perfectly with our fund strategy, which focuses on stabilised properties in attractive locations," explains Kerstin Lauerbach, Head of Portfolio Management at BEOS AG.
Christine Bernhofer, Managing Director of Swiss Life KVG: "We are delighted at the speed with which we were able to launch the CREFG IV for BEOS AG, our new partner in the Swiss Life Asset Managers network. This clearly demonstrates the potential of Swiss Life Asset Managers for major projects."