UBS Foncipars acquires residential property in Meyrin

The residential property in Meyrin (GE), which UBS Foncipars acquired at the end of March, consists of a row of buildings with five building entrances and a total of 65 apartments. The investment also includes 65 indoor parking spaces and 52 outdoor parking spaces. According to UBS, the property is fully leased; there is "considerable rent potential" in the event of a change of tenants.

The property is part of the satellite town of Meyrin, which was built between 1930 and 1964 according to urban planning ideas by Le Corbusier. The property, which UBS purchased for an investment volume of around CHF 40 million, was built in 1963. (ah)