MAPFRE and Swiss Life Expand Real Estate Portfolio with New Property Transfers
In a recent development, MAPFRE and Swiss Life have announced the transfer of two prime properties to their jointly held real estate funds, further solidifying their partnership in the European real estate market.
MAPFRE will be transferring a building located at number 12 on Avenida de Burgos in Madrid to the pan-European vehicle established by the two companies in 2021. This addition will expand the portfolio of high-quality properties held by the fund, which already includes properties in Milan, Madrid, and Brussels. On the other hand, Swiss Life will be assigning an asset at number 3 on Rue la Boétie in Paris to the second fund created by the two groups in 2018. This fund currently comprises ten buildings, all located in the French capital.
Since 2018, MAPFRE and Swiss Life have been actively acquiring and assigning properties from their portfolios to these funds, all strategically located in major European capitals. The recent transaction, valued at almost 140 million euros, brings the total assets under management by the two vehicles to over 1 billion euros.
MAPFRE’s investment strategy in real estate funds continues to progress, with total assets under management now exceeding 2.1 billion euros. The company has established partnerships with industry leaders such as Swiss Life, Munich RE, and Macquarie to diversify its real estate portfolio across Europe. Despite the significant growth in real estate investments, it still represents a small percentage of MAPFRE’s total investment portfolio, which stood at almost 45 billion euros at the end of the first quarter.
Alfredo Muñoz, general manager of MAPFRE Inmuebles, expressed satisfaction with the results of the partnership, emphasizing the importance of focusing on prime properties and diversifying across Europe to mitigate risks during market fluctuations. Swiss Life Asset Managers, with 165 years of experience in managing assets, follows a philosophy of value preservation, consistent performance, and a responsible approach to risks.
Fabrice Lombardo, Head Real Estate of Swiss Life Asset Managers France, highlighted the significance of the recent asset transfers in strengthening their long-term partnership and executing their high-quality real estate portfolio strategy at an opportune market timing.
The collaboration between MAPFRE and Swiss Life in the real estate sector continues to yield positive results, demonstrating their commitment to strategic investments and long-term growth in the European real estate market.
