UBS funds invest in Basel

UBS's Direct Urban and Direct Residential real estate funds have acquired commercial and residential properties in Basel, respectively, for a total of approximately CHF 42 million.

Basel (Image: bloodua - depositphotos)

The new acquisitions for the UBS Direct Residential real estate fund are a fully leased portfolio of two properties with rental potential, which were acquired retroactively as of January 1, 2021. The investment volume was CHF 17 million, according to UBS. One property with 19 apartments is located in the immediate vicinity of Messe Basel, the second property is located in the popular residential district of Gotthelf and has 18 apartments, a commercial space on the first floor and storage space in the basement.

UBS Direct Urban has also acquired a fully leased commercial property in Basel's city center for around 25 million with an effective date of January 1, 2021. It is a seven-story building designed for office and retail use. A restaurant is located on the ground and mezzanine floors, while the space on the upper floors is used for training purposes. (ah)

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