Swiss Life's European fund seeks fresh capital

Swiss Life REF (CH) European Properties invests in office, retail and residential real estate as well as mixed-use properties in European metropolitan regions. According to Swiss Life Asset Managers, the investment focus is on the core markets of Germany, France, the UK, Austria, Benelux, Scandinavia and Southern Europe.

As at the end of January 2019, the property portfolio comprised eight properties in Germany, France, the UK, Belgium and Finland with a market value of around 288 million euros. The portfolio is now set to grow further - and a capital increase of around 100 million euros is planned for the third quarter of this year. Exclusive purchase agreement negotiations are reportedly already underway for two properties.

Swiss Life Asset Managers also announced that the last partial subscription among the initial investors was carried out at the end of February 2019. The EUR 300 million subscribed in the initial issue had been called up in full.

The fund is to be included in over-the-counter (OTC) trading from April 2019. (ah)