Acquisition in Germany
The Swiss Life subsidiary Corpus Sireo Real Estate has acquired the retail property "Florentinum" in Dresden.
Corpus Sireo Real Estate has acquired the retail property "Florentinum" in Dresden for the real estate portfolio of Swiss Life Asset Managers in Germany. The seller is Axa Investment Managers. The parties have agreed not to disclose the purchase price. According to the company, the building at Prager Strasse 10 was last extensively modernized in 2003 and currently has 15 commercial tenants, including Globetrotter, H&M and Orsay.
"With the acquisition of the Florentinum in Dresden, we have added a top asset to our portfolio," says Florian Bauer, responsible for Swiss Life AM's real estate business in Germany. "The location in Dresden's city center could hardly be better. In addition, the metropolis on the Elbe is experiencing constant population growth and is one of the German cities with the highest quality of life."
In addition to almost 13,000 square meters of retail space, the "Florentinum" also has offices (3,200 square meters) as well as residential space (2,800 square meters) and 107 parking spaces.
