Quantus buys office building with value-add strategy
Quantus has acquired a vacant property in Glattpark in Opfikon for the Club Estate Prime Selection Fund.
The Atrium office building was designed and built in 1994 for an international consulting firm. It offers around 11,300 sqm, which can be used as offices, showrooms and retail space. In addition, there is more than 6,700 sqm of logistics and storage space as well as 240 underground parking spaces and ten visitor parking spaces.
"We acquired the building with a vacancy rate of over 50%," says My Truong, Head of Portfolio Management at Quantus. Nevertheless, the net return on invested capital is just under 5%. Since the purchase, rental income has already increased by over 6%, he added. "If we achieve full occupancy, we can more than triple the equity invested."
The current difficult market environment offers good opportunities within value-add strategies, says Urs Küng, CEO of Quantus. "Therefore, we will continue to make selective acquisitions under this strategy in the coming months."
Quantus manages real estate and real estate loans with a market value of over CHF 2 billion in institutional and private investment vehicles. (aw)
