Link Securities | The real estate alliance between Mapfre and Swiss Life Group has expanded, as both companies have reached an agreement to transfer two more properties to their real estate funds, the digital portal elEconomista.es reported. They are located in Madrid and Paris and have a combined value of almost 140 million euros.
Specifically, the Spanish insurer has transferred the building at Avenida de Burgos 12, located in the Spanish capital to the first vehicle they jointly launched in 2019, making it part of a portfolio comprising prime buildings located mainly in Milan and Brussels. The Swiss group, for its part, has transferred the property located at 3 Rue la Boétie in Paris to the second fund set up by the two groups in 2018, currently comprising ten buildings, all of them in the French capital. The two vehicles already have assets valued at more than €1 billion.
