Swiss Estates: Acquisitions worth 85 million
Swiss Estates AG acquires five properties with a transaction volume of CHF 85 million. This increases the Group's real estate portfolio to just under 250 million in terms of market values.
The five properties for whose acquisition a framework agreement has been concluded are mainly residential properties, Swiss Estates reports.
A total of eleven buildings at two locations in the canton of Berne (190 apartments, 242 parking spaces and a commercial component, most of which is leased long-term to a retail chain), two buildings in the canton of Solothurn (33 apartments, a small commercial component and nine parking spaces) and one building in the canton of Valais (40 apartments and 53 parking spaces) are changing hands.
Real estate portfolio reaches 250 million
The net rental income of the properties amounts to about CHF four million per year, the transaction volume is 85 million. Financing for the acquisitions has been secured through a consortium of asset managers and pension funds, Swiss Estates writes in a statement. In connection with the accompanying capital increase, the group will also receive around 19.5 million in cash.
The transaction will increase the Group's real estate portfolio at market values to almost 250 million, and net rental income to well over ten million per year.
Further acquisitions planned
"We are very pleased to be able to implement this acquisition, which we have been working on for a long time," says Udo Roessig, CEO of Swiss Estates. This opens up a new growth perspective for the group of companies. Concrete projects with similar volumes are already being worked on, he adds.
Swiss Estates invests in residential properties in the urban areas of Switzerland, including agglomerations of the larger cities. Residential properties with 20 rental units or more are acquired on an opportunistic basis, such as "undermanaged assets" or "assets with repositioning potential".
