Swiss Life AM launches new fund
Swiss Life AM has launched the SL REF (DE) Key Regional Cities Germany fund through its German Swiss Life KVG. The fund invests in German office properties.
The SL REF (DE) Key Regional Cities Germany fund is aimed at German institutional investors, Swiss Life Asset Managers (Swiss Life AM) says. The target volume is 250 million euros, equivalent to CHF 284.7 million, it said.
The fund pursues the ABBA investment strategy, it continues. This means that investments are to be made in properties in one of the seven A-cities Berlin, Düsseldorf, Frankfurt, Hamburg, Cologne, Munich, Stuttgart with locations in B-locations or in B-cities with locations in A-locations.
The aim is also to achieve regional diversification - up to 26 office locations are planned - as well as diversification in terms of type of use, size and age. The focus is on multi-tenant properties with predominantly office use.
SL REF (DE) Key Regional Cities has already acquired two properties, both located in so-called B-cities: The LEED Platinum pre-certified Sheridan Tower in Augsburg and the Munzingerstrasse 5, 5a office property in Freiburg im Breisgau. The parties have agreed not to disclose the purchase prices.
