Assetimmo divests itself of the Rietbrüel shopping center
As part of a portfolio adjustment, Assetimmo sold a property in Mels. This resulted in a capital loss.
Assetimmo sold the Rietbrüel shopping center in Mels (SG) on February 1. The decision to sell the property was made for strategic reasons in order to streamline the portfolio in terms of macro and micro location as well as use, according to the real estate investment foundation.
The shopping center belonged to investment group G (stores), which comprises a portfolio of directly held commercial properties mainly on Lake Geneva and in the greater Zurich, Bern and Basel areas. The sale of the property greatly reduced the rental risk in the investment group, Assetimmo said. The main tenant, a furniture store, had recently been bought out and contributed to a significant portion of the investment group's target rental income, he said.
Due to current market developments, a capital loss was incurred with the sale, pushing the YTD performance to -0.22% in the February 2023 price value, Assetimmo added. As shown in the investment group's annual report for fiscal year 2021/22, the property was on the books with a market value of CHF 40.13 million, and rental income amounted to CHF 2.5 million. (ah)
