Swiss Life Asset Managers, Real Estate completes its offerings to institutional investors with the launch of SL REF (Lux) European Retail SCS, SICAV-RAIF, a fund that targets assets to trade in Europe.
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Available to the marketing in France since march 27, 2017, he develops a pan-european strategy, focusing mainly on Prime retail centres in cities with an excellent catchment area, as well as the commercial centres of nearby France and Germany.
The target allocation combines a core portfolio centered on France and Germany with a possible diversification in Belgium, Luxembourg, Italy, Spain and Portugal.
The portfolio of French is already partly formed, as 68 m of acquisitions have been completed or are being finalized. Thus, 13 active foot building located in the heart of Paris, in neighborhoods high-end (rue de Passy, rue de Rennes…) have been acquired last march, and several other assets, primarily in the centre of Paris and Marseille are currently on a promise. These assets are the foundation of investment of this new fund in France.
The next investment should be limited to Germany, as the second pillar of the fund with a number of assets to the study. On this country SL REF (Lux) European Retail SCS, SICAV-RAIF will be based on the local team of Corpus Sireo, one of the leaders of the asset management real estate in Germany.
A geographical diversification will also be sought on the assets “High Street” located in the main shopping streets in cities of spain (Madrid,Barcelona), italy (Milan, Turin), or belgium (Brussels, Antwerp, Ghent) that have either a strong tourist attraction, is a strong catchment area primary.
This fund under luxembourg law, is managed by Swiss Life Fund Management (Lux) LTD, the management company AIFM based in Luxembourg, Swiss Life REIM (France) acting as Investment adviser and Distributor.
The fund has several advantages :
– Swiss Life Asset Managers is one of the leaders of real estate in Europe
– exposure to european trade, thanks to local teams who are fully proficient in their market
– diversify its portfolio approach to sectoral or geographic
– access to a portfolio that already consists partly
The strengths of the strategy implementation on the retail market in Europe :
– A combination of Core assets very well located in the major european cities and assets in close proximity to very well entrenched in their sector and to optimize the overall performance of the portfolio
– A strategy which refers to formats of trade are less exposed to the growth of Ecommerce (big brands who are developing strategies in multi-channel or corner shops)
– Targeting of european cities, draining the economic and demographic growth and promoting the development of businesses
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