LaSalle Investment Management and Swiss Life Asset Managers complete a joint venture focusing on the German logistics market.
The venture will recapitalise a EUR 320 million seed portfolio of five grade-A fully-let logistics assets contributed by Swiss Life Asset Managers and seek to acquire and develop additional logistics assets. Swiss Life Asset Managers will act as the asset and investor-developer manager and the insurance arm of Swiss Life will retain a minority equity stake in the aggregate portfolio.
The five seed assets, across the Rhein-Ruhr, Koblenz and Zwickau regions, have a total lettable area of 236.000 square metres with 100% CPI-indexed rents.
This investment presents LaSalle with an opportunity to partner with a best-in-class manager in a preferred sector, overseeing a portfolio of exceptional award winning state-of-the-art logistics assets in the robust German logistics market. The partnership is set to leverage Swiss Life Asset Managers’ fully integrated logistics platform and benefit from the sustained high demand for logistics assets in key trading and transport hubs across continental Europe.
Mathias Malzbender, Managing Director, LaSalle Global Solutions, commented: “This investment and partnership with Swiss Life Asset Managers, a leading institutional real estate developer and manager, provides us with an exceptional opportunity to expand in one of the most sought-after sectors in Europe. Swiss Life Asset Managers is a sophisticated and valued partner, and we look forward to building a successful
relationship and continuing the success of this portfolio. Given that the German logistics market is among the top-performing in Europe, focusing and expanding in this region has long been a priority for us at LaSalle.”
Per Erikson, Head Real Estate at Swiss Life Asset Managers adds: “We are pleased to partner with LaSalle and create long-term value for our stakeholders. Our unique insights and access to the investment market as well as our development expertise have become a differentiating feature and a competitive advantage. I am particularly pleased that our European Logistics platform, headed by Ingo Steves, developed the exclusive seed portfolio for this venture. In LaSalle we have a like-minded and solid partner investing with us in the dynamic and promising European logistics market.”
Information
Swiss Life Media Relations
Phone +41 43 284 77 77
media.relations@swisslife.ch
LaSalle Investment Management
Drew McNeill
Phone +33 (0) 6 23 50 50 21
drew.mcneill@lasalle.com