Fundamenta: Six acquisitions in the first half-year
Fundamenta Real Estate expanded its investment portfolio through further acquisitions in the first half of 2016. Six existing properties were acquired and added to the real estate portfolio.
The portfolio expansion was financed as planned from the funds made available with the last capital increase in the fourth quarter of 2015, it says. At the same time, the repositioning of existing portfolio properties is progressing and allows a consolidation of the prospective earnings situation, Fundamenta Real Estate writes.
With the acquisition of six existing properties worth around CHF 47 million, the existing portfolio was expanded to include properties in the city of Berne, in central Switzerland (Netstal, Canton of Glarus), in eastern Switzerland (Arbon, Canton of Thurgau) and three in the greater Zurich area (two in the city of Zurich and one in Berikon, Canton of Aargau).
Meanwhile, Fundamenta Real Estate has successfully completed the implementation of its property strategy at the Parkstrasse property in the city of Bern. The property was modernized and additional space potential was tapped by adding a floor to the building, the company writes. All 40 apartments were successfully re-let. The repositioning of commercial space in the city of Basel at the Claragraben property is also proceeding according to plan. The commercial space currently under construction has been leased.
Two further property strategies for one property each in Frauenfeld TG and in the city of Zurich are in the implementation phase. The ongoing new construction projects in Winterthur and Hinwil are progressing according to plan and will be completed in 2017. In addition, the planning and realization of a development project in the city of Zurich is underway.
As of June 30, 2016, the real estate portfolio of Fundamenta Real Estate AG has a market value of approximately 477 million, excluding any value adjustments as of the 2016 half-year financial statements and including the ongoing new construction projects with an investment volume of approximately 59 million. (mr)
