The investment vehicle will acquire two landmark office buildings: “VoltAir” a visionary 30,000 square metre property in Berlin and 86 Boulevard Haussmann, a prestigious Haussmannian building in the heart of Paris. Swiss Life Asset Managers on behalf of Swiss Life Group entities will invest in this investment vehicle together with Norges Bank Investment Management. The investment vehicle is managed by Swiss Life Asset Managers and targets investments in Berlin and Paris with focus on prime locations and sizeable high-quality assets.
The investment vehicle will target core assets in Berlin and Paris, predominantly with commercial use. To date, two real estate transactions have already been signed by the investment vehicle, VoltAir in Berlin for the amount of EUR 457 million and 86 Boulevard Haussmann in Paris for EUR 217 million. The closing of the transactions are expected in February 2023 and December 2022 respectively.
The strategy of the investment vehicle is similar to the one Swiss Life Asset Managers applies in its core markets Germany and France, where it has a long-standing track record in the management of various real estate asset classes. For Swiss Life Asset Managers, the transactions underline its ability to source high quality real estate assets through local and specialised teams and further strengthen its presence as one of Europe’s leading asset managers. Berlin and Paris are dynamic and future-proof cities with exemplary development ambitions in the areas of sustainability and modernisation. Both cities are good examples of solid and innovative investment opportunities.
“We are pleased to partner with an experienced and financially strong institutional investor with a long-term investment horizon. We are successfully leveraging our proprietary asset management portfolio strategy for third parties by launching this investment vehicle with a likeminded counterparty. Drawing on our knowledge and experience of over 165 years in risk management, we develop future-oriented investment solutions. That’s how we support our clients in achieving their long-term investment objectives,” comments Stefan Mächler, Group CIO at Swiss Life.
This achievement demonstrates Swiss Life Asset Managers’ ability to successfully enter into commercial relationships with sophisticated investors globally and further credentials its real asset platform.
The investment vehicle will acquire the 30,000 square meter “VoltAir” property in Berlin from ABG Real Estate Group, making it one of the biggest office transactions on the German market in 2022. 90% of its space is allocated to office and 10% to retail. The modern space offers plenty of flexibility for occupants from all business sectors and disciplines and has been fully let since its completion in mid-2022. For its sustainability and comfort features VoltAir is endorsed as a Green building with LEED Gold certification; it boasts excellent digital infrastructure and is WiredScore certified.
86 Bd Haussmann, Paris
The prime office building is located in the Central Business District of Paris. Its modern 11,000 square meters are exclusively dedicated to office use and have been fully leased since 2002 whilst its rigorous renovations improved the property’s overall attractiveness, in particular its common areas and service spaces. 86 Bd Haussmann is certified BREEAM In Use and HQE Very Good and follows a sustainable strategy of continuous improvement.