Swiss Life Asset Managers is expanding its development portfolio with the acquisition of a 36,000 m2 development site in Laichingen, south-east of Stuttgart in Germany.
The company plans to develop a modern logistics property on the plot, with a rental area of more than 21,000 m2.
Called Stuttgart Southeast 1, the project is planned to kick off in the first quarter of 2024 with completion planned for the fourth quarter of 2024.
'Located in a promising logistics region, this property is an excellent addition to our portfolio,' said Ingo Steves, managing partner Logistics at Swiss Life Asset Managers. 'The new site is an important part of our investment strategy to create long-term and sustainable added value for the corresponding regions.'
The property is aiming for Breeam Very Good certification.