Novavest Real Estate AG on a shopping spree

Novavest Real Estate AG has recently acquired a portfolio of six properties in Basel. According to the company, the properties are five residential properties and one residential and commercial property. The portfolio comprises a total of 111 apartments as well as smaller office and commercial spaces and has a total rental area of around 7,440 sqm. Novavest Real Estate estimates the target rental income at around CHF 1.7 million per year and the total investment costs for the purchase of the properties at around CHF 43 million. The transfer of ownership took place on June 30, 2020.

In recent months, Novavest Real Estate has acquired one residential property each in the city of St. Gallen with 16 apartments and in Obernau near Kriens (LU) with 32 apartments. According to the information provided, the two properties generate target rental income of around CHF 0.9 million with a total rental area of around 4,550 sqm. The transfers of ownership of the two properties took place in April and May 2020, respectively; the total investment costs are stated at around CHF 23.3 million. (bw)