CBRE to provide valuation services for SE Swiss Estates
SE Swiss Estates AG has commissioned CBRE Zurich to perform the market value estimates of the real estate portfolio held for the annual reporting. In addition, CBRE is also to determine the market values of properties that SE Swiss Estates will acquire.
CBRE will value the SE Swiss Estates portfolio for the first time as of December 31, 2015 in accordance with Swiss GAAP FER, Swiss Valuation Standards and RICS Red Book standards, SE Swiss Estates announced.
Udo Rössig, CEO of SE Swiss Estates AG, says: "We are looking forward to working with CBRE and expect this highly professional company to provide even more precise market value appraisals in the future than was previously the case." The switch to CBRE was made because the previous valuation expert has a capital link with CSL Immobilien, the new real estate management company appointed by SE Swiss Estates on January 1, 2016. "In order to prevent potential conflicts of interest, it seemed appropriate for us to appoint a new professional valuation expert," says Rössig.
In Switzerland, CBRE has offices in Zurich and Geneva with a total of more than 70 employees. CBRE employs around 70,000 people in more than 60 countries worldwide.
SE Swiss Estates AG invests in residential real estate in urban areas of Switzerland, including agglomerations of larger cities. Residential properties of 20 rental units or more are acquired on an opportunistic basis. The real estate portfolio of SE Swiss Estates amounted to around CHF 160 million at market value as at December 31, 2014. (ah)
