Swiss Life: Fund buys in Arbon and Sion
The real estate fund Swiss Life REF (CH) Swiss Properties acquired a residential property in Arbon and a commercial property in Sion in October 2017. After the acquisition, the fund portfolio consists of 48 properties.
The residential property at Brühlstrasse 87 a-d in Arbon dates back to 1961 and was totally renovated in 2014. The buildings comprise 21 residential units. The property serves "a stable demand segment in the mid-price range while being in very good condition and highly functional," Swiss Life says. The property provides an annual target rental income of CHF 345,000.
The property for sale at Avenue de France 12 in Sion, which was also acquired, is in a central business location between the train station and the city center. According to Swiss Life, the building, which was constructed in 1985 and partially renovated in 2010, is fully let with an average remaining term of just under five years (WAULT). The target rental income amounts to CHF 600,000 per year.
After the two acquisitions, the total market value of the portfolio amounts to 659 million. The broadly diversified fund was launched on November 2, 2015 and invests in residential properties as well as selected commercial properties, preferably located in Swiss cities or their agglomerations.
