Swiss Life Living + Working: Acquisition in Regensburg
The open-ended mutual property fund Swiss Life REF (DE) European Real Estate Living and Working recently acquired the Castra-Regina-Center at Bahnhofstrasse 22 and 24 in the center of Regensburg, which was built in 1989 and is almost fully let.
The seller of the property is a closed-end fund of Doba Grund Beteiligungs GmbH & Co. The parties have agreed not to disclose the transaction volume. The purchase was supported by the German Swiss Life subsidiary Corpus Sireo Real Estate.
The five-story building houses practice areas for doctors, a clinic, a senior citizens' residence, a hotel, a pharmacy and a rehabilitation center; the attached parking garage offers 411 parking spaces. The main train station is about 300 meters away; the bus station can also be reached in a few minutes.
According to Walter Seul, fund manager of Swiss Life Living + Working, the uses in the building complement each other perfectly: "Visitors to the day clinic can use the adjoining hotel or the rehabilitation center. This makes the entire building concept extremely sustainable."
The investment focus of Swiss Life Living + Working is on German and European real estate in the residential and healthcare (Living) and office and retail (Working) segments. Segment-specific investment strategies are used to realize the targeted risk/return profiles of the different asset classes, so that the portfolio as a whole can deliver stable income and sustainable value for primarily security-oriented real estate investors. According to the fund management, the fund aims to achieve a performance of over 2.5 percent.
