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Swiss Life REF (CH) European Properties acquires three properties and plans capital increase

23.05.2019

With its Swiss Life REF (CH) European Properties real estate fund, Swiss Life Asset Managers is acquiring properties in Dublin, Luxembourg and Madrid. In addition, a capital increase of around EUR 100 million is planned for midyear.

The Swiss Life REF (CH) European Properties real estate fund continues to pursue its successful quality strategy. With the support of Mayfair Capital and Swiss Life Asset Managers France, it has made purchases in three European metropolises: Dublin, Luxembourg and Madrid. The entire capital of the first issue (EUR 300 million) is thus invested.

The Lennox building in Dublin is located in a historic neighbourhood at the corner of South Richmond Street and Lennox Street in Dublin 2, the city’s traditional office district. With some 3000 square metres of office and catering space, the property benefits from its proximity to restaurants, cafés and bars as well as bus and tram stops. The four-storey new build has two long-term main tenants.

The first property acquired in Luxembourg is situated south of the city centre in Cloche d’Or, a district which is seeing substantial growth and which profits from the expansion of city and private infrastructure. A tram line with a nearby stop leads directly into the heart of the town. With around 4200 square metres of space, the property is occupied by two long-time, locally based main tenants.

The purchase in Madrid is located in the Chamberí district north of the old town, not far from the Paseo de la Castellana. Freshly renovated last year, the office building offers some 6300 square metres of rental space. The ground floor is let to retail and catering tenants while the upper storeys are rented as offices. The main tenant has signed a long-term lease.

Capital increase planned for midyear
Swiss Life REF (CH) European Properties invests in European office, retail and residential real estate as well as in mixed-use properties. It focuses on Core and Core Plus locations in large European cities and in European regional centres and their suburbs. The focus of the investments is on the European core markets of Germany, France and the Benelux countries, as well as the United Kingdom, Austria, Scandinavia and southern Europe. The fund currently comprises 12* properties in eight countries. A capital increase of around EUR 100 million is planned for midyear. The specific conditions of the planned capital increase will be announced shortly.

(* incl. project development, transfer of ownership expected in the first half of 2021)

Disclaimer
This document was produced with the greatest of care and to the best of our knowledge and belief. However, we provide no guarantee with regard to its content and completeness and do not accept any liability for losses which might arise from making use of this information. This publication is not intended as a solicitation or recommendation to buy or sell investment instruments, but only serves to provide information. Both Swiss Life Ltd and the other members of the Swiss Life Group are entitled to positions in this investment fund and to its purchase and/or sale. This document contains "forward-looking statements" that express our assessment and expectations at a given point in time. However, various risks, uncertainties and other influencing factors can cause the actual developments and results to differ significantly from our expectations. The source of all data and diagrams (unless stated otherwise) is Swiss Life Asset Management Ltd.

The fund mentioned is offered exclusively to qualified investors as per the Federal Law on Collective Capital Investments. Comprehensive information on the fund can be found in the documents which form the legal basis for any investment. They may be ordered free of charge in electronic or printed form from the fund management company, Swiss Life Asset Management Ltd, General-Guisan-Quai 40, 8002 Zurich.

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