Swiss Life acquires German investment manager Beos
Swiss Life continues to expand in the German real estate market. The insurance group acquires Beos, a large corporate real estate investment manager.
Beos AG was founded in 1997 and has its headquarters in Berlin. The company has a total of 150 employees working in Berlin as well as in the branch offices in Hamburg, Frankfurt, Cologne, Munich and Stuttgart.
Beos develops and manages mixed-use commercial properties in the office, manufacturing, service and logistics sectors. The company managed properties worth EUR 2.6 billion (CHF 2.9 billion) with more than 2.6 million sqm of leasable space as of the end of 2017, according to Swiss Life. Sales in 2017 were 30 million euros (CHF 34.5 million).
In 2010, Beos launched its first special fund for corporate real estate with a volume of 400 million euros. The successor fund placed in 2012 had an investment volume of 700 million. In 2015, a third special fund for corporate real estate was launched with an investment volume of 1.1 billion.
With the acquisition of Beos, Swiss Life Asset Managers aims to grow in the area of third-party asset management and open up access to new institutional clients, says Stefan Mächler, Chief Investment Officer of the Swiss Life Group.
Beos AG is to continue unchanged and independently as a company; all locations, jobs and functions will be retained, Swiss Life announces. Ingo Hans Holz and Stephan Bone-Winkel will remain on the supervisory board and the investment committee for project developments. They will also continue to co-invest in the company's value investment fund.
The parties have agreed not to disclose the selling price. The transaction still has to be approved by the antitrust authorities. It is expected to be completed in the third quarter of 2018.
