1291 Investment foundation takes over real estate portfolio
1291 Swiss Investment Foundation acquires a portfolio consisting of nine residential and commercial properties from a pension fund through a contribution in kind.
According to a statement from the 1291 Investment Foundation, the properties are located in good, mostly central locations in the cities of Bern, Geneva and Zurich, as well as in Echandens and Ecublens (VD) and Köniz (BE). The residential portion is around 60%, and the total investment cost for the portfolio is CHF 49 million. The Swiss pension fund is contributing the real estate portfolio to its existing investment in the investment foundation.
As a result of the acquisition, the real estate portfolio of the 1291 Investment Foundation has increased to 815 million. It now comprises 63 properties and one project in 14 cantons, and the annual target rental income is 28.2 million. (ah)
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