Procimmo Swiss Commercial Fund II makes additional purchases
Procimmo Swiss Commercial Fund II has acquired two portfolio properties. The properties in Embrach (ZH) and Oberglatt (ZH) have a total market value of around CHF 25.2 million.
The two properties were acquired simultaneously in November 2018, Procimmo says. The building in Embrach (ZH) reportedly has around 10,100 sqm of leasable space, a site area of just under 5,100 sqm and a market value of around CHF 15.5 million. The building is located at Hardhofstrasse 15/17 and is used as a commercial and office property. The property is located in an industrial and commercial area on the northern edge of the municipality of Embrach and is considered to have above-average accessibility, both in terms of public and individual transport, Procimmo added. The gross yield-IST on cost price is estimated at around 6.6 percent.
According to the announcement, the second property is a property in Oberglatt (ZH) with a leasable area of around 6,400 sqm, a land area of 3,400 sqm and a market value of around 9.7 million. The building is mainly used for commercial purposes, but there is also office space. It is located at Wehntalerstrasse 6, in an industrial and commercial area to the west of the municipality of Oberglatt, with the A51 freeway access just a few minutes away. For this property, the gross yield-IST on cost price is around 6.8 percent, according to Procimmo.
The total fund assets of Procimmo Swiss Commercial Fund II currently amount to approximately CHF 410 million. (ah)
