Procimmo Fund P56 on shopping spree
Since its launch last November, the Procimmo Swiss Commercial Fund 56 (P56) has acquired properties with a market value of CHF 94 million. Further properties with a market value of around CHF 26 million will be added to the portfolio shortly, according to Procimmo.
This means that the almost CHF 60 million made available to the fund at the time of its launch has been fully invested within a short space of time.
According to Procimmo, the properties acquired in recent months are located in Geneva-Satigny (GE), Bussigny (VD), Lonay (VD), Puidoux (VD), Renens (VD), Saint-Légier-La Chiésaz (VD), Port-Valais (VD), Delsberg (JU), La Chaux-de-Fonds (NE) and Geneva-Acacias (GE).
Two properties (Saint-Légier-La Chiésaz and Geneva-Acacias) are forward sales or promises to purchase. An additional property is about to be purchased.
According to Procimmo, the average purchase price for these properties is around CHF 2,000/sqm. The buildings have a total of around 46,000 sqm of available space, which is let to only a few tenants. The lease terms of the properties are predominantly long-term, with around 30 percent of the properties having leases of over 15 years.
The Procimmo Swiss Commercial Fund 56 invests mainly in commercial real estate in French-speaking Switzerland. (ah)
