Swiss Life AM aims for further growth
Swiss Life Asset Managers increased its portfolio of managed properties by 5.5 billion euros to 86.5 billion euros in the first half of the year. Growth is set to continue - also in Switzerland.
In the first half of 2019, Swiss Life Asset Managers increased its real estate portfolio by almost 7% to EUR 86.5 billion compared to year-end 2018. As Stefan Mächler, Group CIO of Swiss Life, says, the company aims to continue growing in Europe where it sees high demand from institutional and private investors for investment solutions with long-term pan-European coverage.
In Switzerland, where Swiss Life says it owns the largest privately held real estate portfolio with a volume of more than CHF 30 billion (as of the end of June 2019), the focus is on the gradual expansion of the portfolio, according to the statement. For this purpose, residential and commercial properties, but also development sites are to be purchased. In addition, the company intends to invest in future segments with growth potential, such as healthcare properties, student residences and co-working.
Swiss Life AM describes the following acquisition as a significant one in the third quarter Acquisition of part of the Klybeck site in Basel from BASF, where a new urban quarter is to be built. In addition, a new residential and commercial development project in Winterthur and two prominent commercial properties in Zurich were purchased.
In June, the Swiss Life REF (CH) Swiss Properties real estate fund was listed on the SIX Swiss Exchange; total market capitalization exceeded 1 billion. At the beginning of December, the Swiss Life Investment Foundation also plans to open the Swiss Real Estate and Swiss Commercial Real Estate investment groups for up to 650 million. (ah)
