Swiss Life Asset Managers has launched a new fund – “SL REF Key Regional Cities Germany” – via its German subsidiary Swiss Life . As a “special fund” (Sondervermögen) under German law, the fund is aimed at institutional investors in Germany. Investments will focus on office properties in 26 selected German cities offering stable values and returns. The fund is expected to be worth up to €250m.
Investments at the “Key Regional Cities Germany” fund will focus on office properties with an “ABBA” investment strategy in German regional centres, i.e. 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: The Sheridan Tower in Augsburg with LEED platinum certification and the office building on Munzingerstrasse 5/5a in Freiburg. The parties agreed not to disclose the purchase price in each case.
Johannes Slabik, Portfolio Manager of “Swiss Life REF Key Regional Cities Germany”, said: “The fund enjoys good cash inflows and is still open to additional investors. Thanks to our ten regional locations in Germany, we are in an optimal position to take into account the fund’s purchasing profile and optimally assess cities in the Top 7 and smaller B cities as well. We got off to an excellent start with the first two acquisitions and will continue expanding the portfolio step by step.”
