Frankfurt am Main, December 9 2019

Market entry in Switzerland: Bayerische Versorgungskammer and Universal-Investment acquire retail portfolio

Bayerische Versorgungskammer (BVK) acquires a retail portfolio in Switzerland from a family office and invests for the first time in the Alpine republic via Universal-Investment. The geographically diversified portfolio consists of fourteen established properties with leading retail tenants as anchors. The buyer is an investment fund which was launched as RAIF on the Luxembourg AIF platform of Universal-Investment for Bayerische Versorgungskammer.

The transaction was arranged by Schroder Real Estate as investment advisor and asset manager. The portfolio will be financed on a long-term basis by UBS Switzerland. The fund invests primarily in high quality Swiss and Austrian retail properties, which primarily serve the local and basic supply of the relevant catchment area. Confidentiality has been agreed for the transaction volume.

Norman Fackelmann, Head of Real Estate Management at Bayerische Versorgungskammer, comments: "We are delighted to be entering the Swiss market and plan to manage the locations in close cooperation with the tenants in the long term. The acquisition is part of our growth strategy for our special real estate fund ‘Retail Parks Austria/Switzerland’ together with our partners Schroder Real Estate and Universal-Investment. The real estate special fund was launched at the beginning of 2018 and currently comprises 28 properties with a rental area of over 150,000 square meters."

Duncan Owen, Global Head Real Estate at Schroders, adds: "We are pleased about the positive development and that the expansion of the cooperation in the Retail Parks segment now also extends to Switzerland."

ABOUT BAYERISCHE VERSORGUNGSKAMMER

Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.3 million insured persons in total, with contributions of € 4.8 billion and € 3.4 billion pension payments annually. It currently has € 77 billion assets under management and 1,315 employees.

ABOUT SCHRODERS

For over 200 years we have built principled partnerships with our clients, putting them at the centre of everything we do. We are a global business managed locally, present in 29 countries with over 5,000 employees, including more than 740 investment professionals. We offer investors access to a wide range of asset classes ranging from traditional equities and bonds and advanced multi-asset solutions to alternative investment opportunities such as private equity, all backed up by in-house research. We are responsible for €496.6 billion* of assets, including €29.5 billion* of private assets for our clients who trust us to deliver sustainable returns. The private asset business includes the real estate segment. Schroder Real Estate manages a global portfolio of over €18 billion*. The team consists of more than 200 real estate professionals, of which beyond 40 currently work in the DACH region alone. The property assets managed in Germany, Austria and Switzerland amount to around €4 billion (*as of 30 June 2019).

Bernd Obergfell

Head of Communications

Phone
+49 69 71043-575

e-mail
bernd.obergfell@universal-investment.com

Add to contacts

Profile

Please find current facts and figures on Universal-Investment at a glance in our portrait