Zug Estates takes over Renggli Holding
With the acquisition of Renggli Holding, a real estate portfolio consisting of twelve properties is transferred to Zug Estates.
Zug Estates announced that it has acquired 100% of the shares of Zug-based Renggli Holding AG with retroactive effect from October 1.
Renggli is the owner of twelve properties in the Zug and Rotkreuz area, including a commercial property in Zug and a development site of over 19,000 sqm with residential and commercial properties in Rotkreuz, which is directly adjacent to the Suurstoffi site of Zug Estates.
The residential portion of the portfolio is just under 50%, according to Zug Estates, and its value is put at CHF 110 million. Annual rental income is reportedly CHF2.6 million, and the vacancy rate was 0.2% as of September 30, 2022.
"The properties of Renggli Holding AG are an excellent addition to our portfolio, which is focused on central and well-developed locations in the canton of Zug," comments Patrik Stillhart, CEO of Zug Estates Holding, on the acquisition. "In particular, the acquired site in Rotkreuz has attractive development potential." (ah)
