Swiss Life fund buys three times

In Dublin, Swiss Life REF (CH) European Properties has acquired the Lennox building at 47-51 Richmond Street South. It is located in a historic neighborhood on the corner of Richmond Street South and Lennox Street in Dublin 2, the city's traditional office district. The four-story property comprises about 3,000 sq. m. of office and restaurant space and is leased long-term to two main tenants, according to Swiss Life Asset Managers.

In Luxembourg, the fund made its first purchase. The property at 9 Rue Robert Stumper is located south of the city center in the Cloche d'Or district. A streetcar line with a nearby stop leads to the city center. The property comprises around 4,200 sqm and, according to the fund's management, is occupied by two long-standing, locally based main tenants.

The new fund property at 27 Calle Eloy Gonzalo in Madrid is located in the Chamberí district north of the old town, not far from Paseo de la Castellana. The commercial building was refurbished in the previous year; it has around 6,300 sqm of rental space. The first floor is used for retail and gastronomy, the upper floors are leased to office users. A long-term lease has been signed with the main tenant, Swiss Life Asset Managers said.

With the three acquisitions, the entire capital of the initial issue - 300 million euros - has been invested, Swiss Life Asset Managers further announces. The company has announced a further capital increase for the middle of the year. The fund aims to raise up to 100 million.

Swiss Life REF (CH) European Properties currently holds twelve properties in eight countries. It invests in European office, retail and residential properties as well as mixed-use properties in core and core-plus locations in major European cities and regional centers and their agglomerations. (ah)