Swiss Life boosts AuM to €81bn
Swiss Life acquired property in Switzerland, France, Germany and Great Britain worth about €7.6bn in 2018, sold about €1.9bn worth of property, and invested €500mn into developments. In sum, the firm’s AuM increased by €9bn to €81bn. In France, the investor joined French housing company CDC Habitat to lead a bidding consortium, which acquired the “Vesta” portfolio with thousands of rail workers’ apartments from state-owned SNCF; Vonovia was also part of the consortium. Swiss Life now quotes the volume of that deal at over €1bn. The company’s German business was marked by the large corporate real estate deals of Beos, but also by developments: The new German subsidiary Corpus Sireo has just completed the “Allianz-Campus” in Berlin-Adershof.
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