SF Sustainable Property Fund buys in Ticino
The SF Sustainable Property Fund has purchased a residential portfolio with 18 properties in Ticino. The purchase price was CHF 158 million.
With this transaction, the funds from the capital increase in May have been fully invested within only one month, the SF Sustainable Property Fund announces.
The properties are all located in the canton of Ticino and have a good micro-location, SFP further writes. The locations are spread across the regions of Chiasso, Lugano, Bellinzona, Locarno and Biasca, with the Lugano region accounting for the largest share. The total of 570 apartments are all rented out and generate a net rental income of around CHF 7.8 million. They will be recognized in profit or loss as of July 1, 2017.
The purchase price was around 158 million, slightly below the market value of the portfolio, which SFP puts at 159.5 million. The gross yield at market value is 4.8 percent.
Following the acquisition, the SF Sustainable Property Fund now holds 64 properties. The fund invests in real estate and projects throughout Switzerland, primarily in properties that can be brought up to the fund's ecological, sociological and economic criteria within seven years.
