Corpus Sireo draws positive balance for 2015
Corpus Sireo, the German real estate subsidiary of Swiss Life Asset Managers, has drawn up a positive balance sheet for the 2015 financial year. The company realized real estate transactions worth around EUR 3.3 billion last year.
In Germany and other European countries, residential and commercial properties totaling around €1.8 billion were acquired for various investment vehicles managed by Corpus Sireo. The purchases were offset by sales of residential and commercial real estate of around €1.5 billion. In the same period, the company concluded or extended leases for a total of around 394,000 sqm of residential and commercial real estate space. Across Europe, the Swiss Life Asset Managers companies in Switzerland, France and Germany turned over real estate transactions worth around ten billion euros in 2015.
The most significant acquisitions of the past year include the Stella office property portfolio, the White Tower hotel project in Munich and the Ostseepark shopping center in Rostock. The Hamburg office property Neuer Dovenhof was also acquired as the first cross-border deal with the French sister company Swiss Life REIM. As part of a co-investment for the parent company Swiss Life Asset Managers, the Cologne-based company also acquired the Germany-wide core office property portfolio Lilli together with Standard Life.
With the acquisition of a plot of land in Berlin-Adlershof, on which the new Allianz headquarters is being built under the leadership of Corpus Sireo, the company is also expanding its activities in the commercial development segment. Until now, the Cologne-based company had brought commercial real estate projects to the construction stage and then sold them on. Now they want to complete development measures themselves more frequently. (ah)
