Swisscanto fund expands portfolio
The Swisscanto (CH) Real Estate Fund Swiss Commercial has expanded its portfolio. Three properties were acquired in Lugano, Glattbrugg and Vevey.
Swisscanto puts the market value of the three commercially used portfolio properties at around CHF 45 million, with a gross yield of 4.9 percent.
The properties have good visibility and are in excellent micro-locations, it adds. The property in Lugano is reportedly located in the business center. The well-preserved building, which dates from 1992, is an office property with a subordinate restaurant use on the first floor.
The mixed-use property with a residential component in the center of Glattbrugg was also built in 1992. It has an attractive tenant mix consisting of medical practices, retail stores and public uses, Swisscanto said. The six-story building in Vevey has retail space on the first floor and office space on the upper floors.
"The acquisition has enabled us to further optimize the fund's portfolio in terms of size and number of individual properties, geographic location and breadth of tenant structure. The portfolio expansion will additionally strengthen the fund's earnings and distribution base," says fund manager Patrick Schmid.
The Swisscanto (CH) Real Estate Fund Swiss Commercial invests throughout Switzerland in real estate or real estate investments with commercial use, pursuing a core/core plus investment style.
