Axa IM acquires in Zurich

Axa Investment Managers Schweiz AG reports the purchase of an office building on Stampfacherstrasse in Zurich for an investment fund it manages. According to the company, the property was completely refurbished in 2008 and includes around 2,900 sqm of office space as well as a parking garage with 43 parking spaces.

The property is leased to ETH Zurich on a long-term basis and offers very stable rental income due to the extremely high tenant creditworthiness and the crisis-resistant industry affiliation. Engel & Völkers Commercial Zurich was commissioned by the seller with the prior letting of the property and also acted as an intermediary and advisor to the seller during the sales process. (bw)