Immofonds invests in Geneva for the first time
The Immofonds has acquired a residential property in Geneva. This is the fund's first investment in the major city in western Switzerland.
Immofonds has purchased the property at 42 Avenue de Miremont in the Champel district of Geneva. There are shopping facilities, restaurants and a park nearby - and Geneva University Hospital is not far away either.
According to the fund, the eight-story building was built in the mid-1980s and includes 15 apartments, most of which have three and four rooms. The property has been continuously renovated and is in good condition, it adds. So far, five apartments have been completely renovated, and when tenants change, the apartments are gradually renovated. It is being examined whether the property should be connected to the district heating network that is to be built in the neighborhood and whether photovoltaics should be installed.
The fund management of the Immofonds assumes that Geneva will continue to have great appeal as a place to live and work and that it will grow at an above-average rate in the coming years. (ah)
