PSP sells "Salmenpark II" development project
On August 17, 2017, PSP Swiss Property Ltd sold the "Salmenpark II" residential construction project in Rheinfelden (AG) for CHF 27.6 million.
A further 96 apartments in four new buildings are planned on the site of the former Salmen/Cardinal brewery in Rheinfelden in the form of "Salmenpark II". The "Salmenpark", which has already been completed, has around 150 apartments as well as retail and office space.
PSP now expects a higher EBITDA figure (excluding valuation effects) of over 240 million for the 2017 financial year due to the sale of the project development to an unnamed investor. Previously, the real estate company had assumed 225 million. The figure for the 2016 financial year was 241.6 million.
The listed public limited company currently owns a real estate portfolio worth 6.9 billion in the most important Swiss economic centers and has a market capitalization of four billion. The 89 employees work in Geneva, Olten, Zug and Zurich.
