Change of hands for retail real estate portfolio
According to market sources, Migros Genossenschaft Zürich recently sold twelve retail and residential properties that were no longer in line with its strategy.
The situation on the Swiss real estate markets is currently favorable for sellers, so it is hardly surprising if one or the other portfolio holder is disposing of properties to take advantage of the favorable time in the cycle.
As IMMOBILIEN Business has learned from market sources, Migros Genossenschaft Zürich recently sold a mixed-use portfolio consisting of twelve properties in the Zurich area, mainly retail and residential properties.
When asked by IMMOBILIEN Business, Hermann Meier, Director of Construction and Real Estate at the Migros Zurich Cooperative, confirmed the sale. Meier explained that the "historic" properties had been sold because they were no longer in line with the company's strategy. The Migros manager did not name the buyer and purchase price, referring to a confidentiality agreement with the transaction partner.
According to market sources, the buyer is the Swiss Prime Investment Foundation, which invested part of the last capital increase. The price for the entire portfolio is rumored to be in excess of CHF 250 million.
