A real estate co-investment vehicle formed by Mapfre and entities of the Swiss Life Group has added a Paris office building to its portfolio.
The 7,200 square meter property, located at 73 Boulevard Haussmann, comprises mainly offices with retail units at ground level, and is leased almost entirely to 16 high-quality tenants.
Swiss Life Asset Managers France set up this co-investment fund with Mapfre in 2018 to invest in prime offices in Paris. The fund is managed by Swiss Life Asset Managers France.
The co-investment vehicle has reached the €500 million milestone with this new asset.
In addition to this project, Mapfre and other Swiss Life Group companies created a pan-European co-investment vehicle two years ago to invest in the real estate market, which was seeded with assets valued at € 400 million and located in Spain, Belgium and Italy.
Mapfre’s real estate sector transactions are handled via Mapfre Inmuebles.
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!