“Swiss Life REF (DE) European Living” buys residential property in Graz, Austria

In October 2022, Swiss Life Asset Managers acquired a residential property in the Austrian city of Graz as part of a share deal for its open real estate fund “Swiss Life REF (DE) European Living”. The vendor of the project is a consortium of developers consisting of Haring Group, TRIVALUE and WEGRAZ. The transaction was brokered by EHL Investment Consulting GmbH, a member of the EHL Group. The ownership, rights and obligations were transferred to the asset management of Swiss Life Asset Managers Deutschland GmbH on 9 March 2023. The contracting parties have agreed not to disclose the purchase price. 

The new residential construction project “Smart Stick & Parkside” at Waagner-Biro-Straße 120/122 completed in March consists of 78 residential units with a total rental area of approx. 5100 square metres. It is part of a new urban development area in the provincial capital of Styria entitled “Smart City”, as well as being the fund’s first investment in Graz. The units vary between 53 and 80 square metres and some are equipped with balconies, terraces or green areas. The ground floor houses the district management, a common room for all of the building’s residents, as well as another commercial unit with 160 square metres. There are 135 car parking spaces in total in the basements (up to 53 of them are e-parking spaces), 68 of which have already been let to the neighbouring property for ten years. A photovoltaic system has been installed on the building, and ÖGNI Gold certification is also being sought.

The property itself is located in the 4th district of Graz, to the west of the Mur river. It forms part of the new "Smart City" urban development, where, for the first time in Graz, future-oriented technologies in the fields of energy, building technology and mobility are being integrated to create the intelligent city of the future. 

The issue of “zero emissions” is being promoted with the extension of the tram system as well as by e-car sharing products and the use of e-bikes. The new tram line is located directly in front of the building, meaning that the main train station can be reached in five minutes, and the old town in 15 minutes.

Graz is the capital of the southern Austrian state of Styria and, with around 289 000 inhabitants, is the second largest city in Austria. Over the past ten years, Graz has been Austria’s fastest growing metropolitan area, and has developed into a university city with more than 60 000 students. 

“With this project in one of the most exciting residential areas in Graz, we have added a very attractive and modern property to “Swiss Life European Living”. We are delighted that we are now also active in Graz with this acquisition,” says Viktoria Hoffmann, Fund Manager of European Living.

“We are very pleased to have found such a renowned and long-term oriented buyer and reliable partner as Swiss Life Asset Managers, with the support of EHL, and would like to express our thanks for the good cooperation”, says Markus Münzer, partner at TRIVALUE.

Further information about “Swiss Life European Living”:
“Swiss Life REF (DE) European Living” is an open-ended public fund for private investors in Germany that invests in residential properties throughout Europe. It is set up and managed by Swiss Life Kapitalverwaltungsgesellschaft mbH. Distribution is exclusively through Deka. The investment strategy of “Swiss Life European Living” aims to address the growing demand for living space in European metropolitan regions and attractive urban areas. The investment focus is on residential properties in regions with positive demographic and economic development. In addition to traditional forms of housing, modern forms such as micro-apartments, serviced, senior and student housing are also considered.

Please note:
the full name of the fund is “Swiss Life REF (DE) European Living”. Further information on Swiss Life European Living is available at: https://www.deka.de/privatkunden/produkte/fonds/immobilienfonds/swiss-life-european-living

Swiss Life Asset Managers Deutschland
Communications
Stephan Pacho
Phone: +49 69 240031 447
media-de@swisslife-am.com