Plazza AG: Acquisition in Zurich

Plazza AG already owns four residential properties in the Im Tiergarten development in Zurich, and the real estate company has so far granted building rights for other properties on the site, including to the Conzzeta pension funds. The latter are selling their properties on the site, and Plazza has exercised its right of first refusal. The price for the two residential properties is CHF 61.1 million, according to a statement from Immobilien-AG. The properties comprise a total of 80 rental apartments and currently generate annual target rental income of 2.1 million.

The Im Tiergarten housing estate in the Friesenberg neighborhood was built on a former site of the Zurich brickworks. It was the first industrial site to be rezoned for residential purposes in the city of Zurich. The location at the foot of the Uetliberg is close to the city center and at the same time close to nature; the settlement is thus considered a sought-after urban residential location. (ah)