Retail: Schroder ImmoPLUS buys portfolio from Rockspring
Schroder Real Estate acquires for the listed fund Schroder ImmoPLUS a retail portfolio consisting of three commercial properties in Lucerne, Villeneuve and Etoy. The seller is Rockspring Property Investment Managers.
The transaction brings the fund's assets to around CHF 1.5 billion, Schroders says.
The portfolio was acquired as a share deal transaction and consists of commercial properties with a total of 55,000 sqm of retail space, which are fully leased to Hornbach Baumarkt (Schweiz) AG. According to Schroders, the remaining term of the leases is 15 years and the annual rental income of the three properties amounts to just under CHF six million.
Roger Hennig, Fund Manager Schroder ImmoPLUS, says: "This is a significant acquisition for Schroder ImmoPLUS and will have a positive impact on performance." He says the transaction is a logical extension of the fund's strategy to diversify its existing portfolio of attractive, centrally located commercial and retail properties with assets that have complementary commercial uses.
Schroders was advised on the transaction by Baker & McKenzie Zurich, KPMG AG Zurich and Wüest & Partner. CBRE (Zurich) AG accompanied the transaction on behalf of the seller. (ah)
