Swiss Life Asset Managers and BEOS have acquired a logistics portfo-lio from DRIVEN Investment for their EIL and SLERF funds. The five fully leased properties with a total of 124,800 square metres are locat-ed at a variety of sites across Germany.
Swiss Life Asset Managers and its specialised corporate real estate subsidiary BEOS AG have acquired a logistics portfolio from DRIVEN Investment in an off-market transaction. The five properties have a combined total of around 125,000 square metres of rental space. The port-folio will be divided and integrated into the funds “Swiss Life Real Estate Funds (LUX) S.A., SICAV-SIF – ESG European Industrial & Logistics” (EIL) and “Swiss Life Real Estate Funds (LUX) European Retail SCS, SICAV-RAIF” (SLERF). The parties have agreed not to disclose the purchase price.
The properties are located in Burgthann near Nuremberg (33,400 square metres of rental space), Emsbüren near the Dutch border (30,500 square metres), Hildesheim (25,100 square metres) and Oyten near Bremen (two properties with 30,900 square metres and 4,900 square metres, respectively). All of the properties are in attrac-tive locations from a logistics perspective – close to major motorway axes, transport hubs and/or metropoli-tan regions.
“With this logistics portfolio, we have not only added five logistics properties to our funds, we have also done so at highly attractive conditions, despite the intense competition in the logistics investment market. The properties have solid fundamentals, while also offering further potential for future value creation”, says Hendrik Staiger, CEO of BEOS AG and Head Industrial & Logis-tics Germany at Swiss Life Asset Managers.
"Since 2019, we have been optimising and consolidating our logistics portfolio. Our strategy is based on active asset management through investment, letting manage-ment and acquisitions”, explains Togrul Gönden, Manag-ing Director of DRIVEN Investment. Over the past two years, the company has almost fully leased the complete-ly vacant portfolio and is now selling it with a weighted average remaining lease term of more than six years. In addition, 24/7 use permits have been obtained in some cases and a footprint expansion has been agreed with one tenant.
Swiss Life Asset Managers’ EIL investment strategy fo-cuses on European industrial and logistics properties and has been targeting international investors and institu-tional clients in Germany since 2020. With these latest acquisitions, the fund now has a volume of around EUR 400 million and aims to deliver steady qualitative and diversified portfolio growth.
Swiss Life Asset Managers’ SLERF primary focus is on retail real estate in Europe. The fund also invests strate-gically in eCommerce logistics facilities close to cities in order to cover the highest potential retail and value chains. The fund currently has an investment volume of EUR 300 million.
BEOS is the Swiss Life Asset Managers’ competence centre for industrial and logistics real estate and is re-sponsible for the acquisition, development and manage-ment of fund properties, together with all investments in these asset classes across Europe.
DRIVEN Investment was supported throughout the transaction by the real estate advisor BNP Paribas Real Estate.
Communications, Swiss Life Asset Managers, Germany
Phone: +49 69 240031 447