Swiss Life fund buys wood hybrid development in Leipzig
The "Swiss Life European Living" fund, which is designed for German investors, has acquired a property with 111 residential units in Leipzig.
The new wooden hybrid building is designed for senior living with communal areas and day care. The fund acquired the complex in Leipzig-Neulindenau as part of an asset deal from a medium-sized project developer from whom Swiss Life Asset Managers had already purchased a new building last year. Completion in Leipzig in eastern Germany is scheduled for October 2023.
"The project is particularly interesting for the fund because, on the one hand, it serves the senior living segment and, on the other, the innovative timber modular construction method means that it can be built in a more climate-friendly and faster way than conventional construction methods," says Viktoria Hoffmann, fund manager of "Swiss Life European Living".
Swiss Life fund distributed via German savings banks
Swiss Life REF (DE) European Living" is an open-ended mutual fund for private investors in Germany with residential real estate in Europe. It is launched and managed by Swiss Life Kapitalverwaltungsgesellschaft mbH. It is distributed exclusively by DekaBank, which manages and distributes funds for the German savings banks. (aw)
