Swiss Life sells majority stake in “Artemis” properties to Lebanese bank group
Swiss life asset management sold a majority stake in the “Artemis” office portfolio to the SFO Group from Lebanon. The investor is a multi-family office of Saradar Holdings, a family-run bank group with a real estate investment arm, which is entering the German market for the first time. No information has been disclosed about the size of the stake. The eleven German office properties comprise approximately 108,000 sqm, located predominantly in North Rhine-Westphalia and the Rhine-Main region. They originally came from the liquidated SEB Immoinvest mutual fund and were sold on to Swiss Life by Goldman Sachs in April. Swiss Life’s subsidiary Corpus Sireo will continue to act as asset manager for the value-add portfolio. SFO intends to use the stake as a starting point for further real estate investment in Germany and Europe, and intends continued collaboration with Swiss life.
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