Swiss Life has acquired two student accommodation properties in France for 鈧�15.5 mln under its strategy to build a 鈧�120 mln portfolio in the country.
The two assets were acquired for off-plan for Swiss Life REIM (France)'s second specialised OPCI, which was launched in June last year.
One unit is located in Amiens with 156 lots in the Gare La Vall茅e district, which contains several colleges including ESC Amiens Business School and the College of Medicine.
The second property, located in Mont Saint Aigan near Rouen, consists of 115 lots and will be built on the Panorama campus, next to universities including the Neoma Business School.
Both assets are due to be completed in June 2017, with the first students moving in for the 2017-2018 academic year. Two other homes are under reservation contract.
'With our experience in this asset class, we were able to select new projects with excellent characteristics both in terms of location or partnerships established with developers and operators,' said Alfred de Cr茅py, deputy director Real Estate Fund & Portfolio Management.
