Spanish insurance group Mapfre SA is partnering with Swiss Life to invest in office assets in France in a bid to diversify its portfolio, IPE Real Assets reported.
The new vehicle will initially invest up to €150.0 million of equity, the partners reportedly said. Swiss Life will seed the fund with an initial investment of €75.0 million, comprising two Haussmann buildings in Paris.
Recently, Mapfre and GLL Real Estate Partners GmbH set up a fund to invest as much as €300.0 million in prime office space in key European markets.
