ERRES: Acquisition in German-speaking Switzerland
The Edmond de Rothschild Real Estate Sicav (ERRES) fund is continuing its expansion course: As ERRES and the fund management company Caceis Switzerland SA announced in a joint communiqué, the fund is acquiring two apartment buildings in Winterthur in the canton of Zurich and an office property in Bern.
According to the information, the two fully leased properties in the northeast of Winterthur comprise 38 residential units; the buildings are located in a quiet residential neighborhood with good public transport connections and close to schools and business locations. After renovation, the existing buildings still offer significant potential for value appreciation, it says.
The office property in Bern is located in the north of Bern's old town, close to the Wankdorf development district and Waffenplatz, with correspondingly good connections (streetcar, train, car). The main tenants of the building are the Canton of Bern and the Swiss Confederation; the condition of the building is excellent, says Caceis.
The acquisitions are in line with the strategy, it concludes: ERRES fund management is focusing on the one hand on the income from fully leased properties, and on the other hand on the value creation potential and higher rental income that these properties offer after their renovation. As part of the renovations, ERRES also focuses on improving the energy efficiency of the individual buildings and sustainable property management, he said. (bw)
