UBS AST-IS invests in Lugano
The UBS AST-IS investment group has acquired a residential and commercial property in Lugano in the form of a contribution in kind.
The property is located in a residential neighborhood along Via Ceresio, according to UBS. It dates from 1993 and has 124 1.5- to 5.5-room apartments. In the immediate vicinity are schools, kindergarten, university (USI), the hospital Viarnetto, the sports facility Cornaredo with football and athletics stadium as well as shopping facilities for daily needs, it says further.
The property is well connected to public transport via two bus lines that stop directly in front of the property, and Lugano's main train station can be reached in twelve minutes. In addition, a road tunnel connects the city center directly with the A2 highway axis, which opens up new development prospects for the neighborhood, UBS added. The investment volume is reportedly around CHF 60 million. (ah)
