Futura Immo Fonds buys again in Basel
On June 23, 2017, the Raiffeisen Futura Immo Fonds signed the purchase agreement for the acquisition of another property in Basel with simultaneous transfer of ownership.
The prestigious property at Rosentalstrasse 71 / Schwarzwaldallee 183 is situated in a prominent location with high pedestrian frequency opposite the Badischer Bahnhof. The property, which was built in 1913 and completely renovated in 1995, has been continuously renovated. In the fourth quarter of 2017, the commercial space will again be converted and renovated, Raiffeisen writes. The investment volume is around CHF 17.5 million.
The two adjoining townhouses have four and five full stories respectively and together form a free-standing building structure. This is a mixed-use property with a total of 1,254 sqm of retail and office space (on the ground floor and 1st floor) and 1,432 sqm of residential space on the floors above.
The property has a good tenant mix and will be fully leased from the second quarter of 2018 following completion of the conversion of the commercial space. The Raiffeisen Futura Immo Fund has been able to conclude long-term leases with the two commercial tenants (system gastronomy and bank branch).
According to its own information, the Raiffeisen Futura Immo Fund invests in sustainable real estate throughout Switzerland. According to the investment strategy, at least 60 percent of the portfolio is invested in residential use and a maximum of 40 percent in commercial use. The fund had already acquired a commercial property in downtown Basel in May 2017.
