Procimmo Swiss Commercial II makes an acquisition

The latest acquisition from August this year is a property at Rotfarb 1-8 in Neftenbach (ZH) with a market value of around CHF 17.7 million and a rentable area of 10,650 sqm. The property on a plot of around 32,000 sqm mainly includes commercial and industrial space, but there is also office space and many parking spaces. The gross yield-IST on prime costs is about 6.7 percent for this property, Procimmo informs. The purchase of this property will not be effective until the new fiscal year (Oct. 1, 2018 to Sept. 30, 2019), it said.

In May, Procimmo Swiss Commercial Fund II purchased two properties. The first property is located at Rengglochstrasse 19 in the western part of the municipality of Kriens (LU), northwest of the Obernau district. The property comprises a leasable area of 7,150 sqm, a land area of 6,840 sqm and has a market value of approximately 10.1 million. The building is used as a commercial property with partial retail space. The gross yield-IST on cost price is stated to be approximately 7.2 percent.

The second property purchased was a property at Pilatusring 2 in Muri (AG) with a rentable area of 7,100 sqm, a land area of 6,480 sqm and a market value of around 8.3 million. It is a typical commercial property that was acquired with a high vacancy rate, Procimmo said. In the meantime, however, larger areas have already been re-let. The property is located in the industrial zone of Muri, which is in the southern part of the municipality. For this property, the gross yield-IST on prime costs is around 4.9 percent, Procimmo said.

The total fund assets of Procimmo Swiss Commercial Fund II currently amount to approximately CHF 390 million.