Cham: Hiag sells Lorzenpark
The new owner of the residential and commercial property is Swiss Prime Investment Foundation.
Hiag Immobilien Holding is selling the Lorzenpark residential and commercial property in Cham (ZG) to Swiss Prime Investment Foundation as of May 1, 2023. The sale price is above the estimated market value, says the listed real estate company based in Basel.
The annualized property income of the property, which was built in 2008 and has 9,400 sqm of office and commercial space and 5,600 sqm of residential space, amounted to CHF 3.3 million as of December 31. The sale was made as part of the capital recycling strategy, Hiag says. The proceeds will mainly be used to finance development projects.
As part of the divestment program for non-strategic properties, the real estate company sold six properties as early as 2022 with gross proceeds before taxes of approximately CHF 16 million. This had corresponded to an average increase of 45% compared to the estimated fair value. In 2022, HIAG posted what it described as its "best result since the IPO in 2014," with net income up 11.4% to CHF 99.4 million. (rh)
