Procimmo launches new fund
Procimmo SA has launched a new real estate fund, Procimmo Swiss Commercial Fund 56 (P56). According to Procimmo, around CHF 58 million has been made available by investors. These funds - together with money from mortgage loans - are to be used to acquire properties worth around CHF 110 million by the end of December 2015.
The buildings being purchased are located in Geneva-Acacias (GE), Geneva-Satigny (GE), Bussigny (VD), Lonay (VD), Puidoux (VD), Renens (VD) and Port-Valais (VD). The expected rental income amounts to approximately CHF 6.4 million. It is confident that it will be able to distribute the announced dividend of at least five CHF per unit after the first reporting period, Procimmo said.
The investment policy of P56 is to invest mainly in properties located in the French-speaking part of Switzerland, either on the periphery of major centers or on highway axes. All properties should have the lowest possible rents. The focus is on properties in good condition with relatively few tenants, very low vacancy rates and long-term rental contracts. (ah)
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