Procimmo and Mestral join forces
The two asset managers Procimmo and Mestral Immobilier are entering into a partnership. A "future acquisition of the share capital of Mestral Immobilier SA in favor of Procimmo SA" is also planned, the companies say.
In the future, Procimmo and Mestral want to take advantage of joint investment opportunities, they added. Mestral Immobilier will continue to be responsible for the asset management of the investment fund "Polymen Fonds Immobilier". Launched in 2009, the fund currently has total assets of more than CHF 400 million (as of Dec. 31, 2016). It invests in residential real estate and mixed-use buildings, mainly in western Switzerland. Since the fund's inception, Solufonds SA in Signy-Avenex has been mandated as fund management company.
The merger of Procimmo and Mestral will enable the fund to strengthen its market positioning, the two asset managers are convinced. In addition, it will be possible to continuously increase the fund's assets in the medium to long term. The transaction is expected to take place in the fourth quarter of 2017 at the latest.
Procimmo SA is a Real Estate Asset Manager accredited by FINMA. Founded in 2007 and headquartered in Le Mont-sur-Lausanne with a branch office in Zurich, the company specializes in the development and management of real estate funds in Switzerland. With tax-exempt fund products, Procimmo SA targets institutional and private investors. Procimmo SA currently manages five funds. The company's current assets under management amount to approximately CHF 1.8 billion.
