MAPFRE and Swiss Life Asset Managers France Expand Their Portfolio of Real Estate Assets With Two New Properties

Through MAPFRE Inmuebles, MAPFRE and Swiss Life, through Swiss Life Asset Managers France, have reached an agreement to transfer two more properties to their jointly held real estate funds.

For its part, MAPFRE is transferring the building located at number 12 on Avenida de Burgos in Madrid to the pan-European vehicle the two companies launched in 2021, enlarging the portfolio made up of high-quality properties mainly in Milan, Madrid and Brussels. Meanwhile, the Swiss group is assigning an asset at number 3 on Rue la Boétie in Paris to the second fund that the two groups created in 2018, which currently comprise ten buildings, all in the French capital.

Since 2018, both groups have been either acquiring or assigning different properties from their own portfolios to the funds, all located in the main European capitals. The value of this transaction just announced comes to almost 140 million euros, meaning both vehicles now hold assets of more than 1 billion euros.

MAPFRE continues to make progress with its investment strategy in real estate funds, always hand in hand with industry leaders. With this latest operation, total assets under management are now more than 2.1 billion euros. In addition to Swiss Life, MAPFRE maintains alliances in this sector with Munich RE and with Macquarie. Due to its conservative risk profile, this amount continues to represent a reduced percentage of its total investment portfolio, which stood at almost 45 billion euros at the close of the first quarter. “We’ve been working together on these funds for more than five years and are very happy with the results we’re getting. Focusing on prime properties such as these and diversifying across Europe gives us considerable protection during a cycle change like the one we’re seeing now,” commented Alfredo Muñoz, general manager of MAPFRE Inmuebles.

Swiss Life Asset Managers has been managing the assets of the Swiss Life Group since it was formed 165 years ago. The experience gained in insurance has played a key role in the investment philosophy of Swiss Life Asset Managers, which is governed by key principles such as value preservation, delivering consistent and sustainable performance and a responsible approach to risks.

“These two assets mark a further step in the deployment of our long-term partnership and reflect our high quality Real estate portfolio strategy at an opportunistic market timing,” said Fabrice Lombardo, Head Real Estate of Swiss Life Asset Managers France.