Mapfre and Swiss Life have invested together through a joint venture (JV) to acquire a historic real estate asset in Rome.
The acquisition was made through a joint real estate investment vehicle – managed by Swiss Life Asset Managers France, Mapfre and Swiss Life – through several entities of their respective groups.
Mapfre said the move confirms the real estate strategy in Italy of its JV, with a focus on high-value heritage assets in Rome, as part of a long-term investment strategy aimed at benefiting from the Italian capital’s favourable market dynamics.
The transaction, for an undisclosed amount, concerns Palazzo Volpi Galloppi, a 17th-century building located at Via del Quirinale 21, as well as the adjacent property at Via delle Quattro Fontane 147. The two closely connected historic buildings form an office complex in Rome’s central business district.
Head of real estate activities in France at Swiss Life Asset Managers, Fabrice Lombardo, said: “This landmark acquisition reflects our ambition to sustainably strengthen our presence in Southern Europe. Rome currently offers particularly attractive fundamentals, combining supply scarcity, strong tenant demand and exceptional heritage quality.”
General manager at Mapfre Inmuebles, Carlos Díaz Gridilla, added: “This building perfectly meets the type of asset we are looking for in Mapfre: a high-quality, well-located property with stable income streams.”
