With its Swiss Life REF (CH) European Properties real estate fund, Swiss Life Asset Managers is acquiring properties in Dortmund, Offenbach and The Hague. An additional capital increase is planned for mid-year to finance the growth.
The real estate fund Swiss Life REF (CH) European Properties exceeded the total asset threshold of EUR 500 million at the end of 2019, two years following its launch, with three acquisitions in Dortmund, Offenbach and The Hague. As a result, the diversification of the fund in terms of location and type of use again increased significantly, thus further strengthening its diligent strategy.
Last autumn two residential properties were purchased in Dortmund and Offenbach. An apartment block with 111 residential units averaging 70 square metres is located in Dortmund between Uhland and Münsterstrasse in the north of the Ruhr metropolis. The second residential property is in Offenbach near Frankfurt on Fritz-Remy-Strasse 5-13 and comprises two separate apartment blocks with 317 residential units averaging 70 square metres. Frankfurt’s city centre can be reached in 30 minutes by public transport, as Offenbach is located close by to the south east.
The first property in the Netherlands was purchased in mid-December 2019. Haagsche Hof in The Hague is in the historic city centre within walking distance of the seat of the Netherlands government and the high street shopping area. The district has many mixed-use historic buildings. Given its proximity to the state institutions, many firms and NGOs have chosen to locate in the same area. The five-floor building was constructed in the 1990s and is one of the few modern office buildings in the area. It has over 10,000 square metres of office space and 300 parking spaces used by tenants from a broad cross-section of the industrial and service sectors.
The successful growth of the fund will continue further through the planned capital increase in the summer of 2020.