Investis sells stake in La Foncière de la Dixence

The project company La Foncière de la Dixence is currently realizing the planning and financing of the
Dixence Resort development project in Hérémence (VS), which according to earlier information is to be realized in stages by the end of 2026. The overall project covers an area of 25,088 square meters and includes a hotel with 60 rooms, a thermal spa, five chalets and seven apartment buildings. La Foncière de la Dixence has so far invested a total of CHF 31 million in this project, Investis says.

The reason for the sale of the stake is to further focus on the Lake Geneva region while reducing risk in the development area, Investis added. However, the real estate company will remain associated with the project: It will participate with 21 percent in the sales profits, but has also committed to take over the hotel as well as the thermal spa two years after its opening for a fixed amount corresponding to the planned construction costs if they have not been sold by then, the statement said.

Investis became the majority shareholder of La Foncière de la Dixence just over a year ago: In November 2017, the company had increased its stake from 50 to 75 percent.

The parties have agreed not to disclose the price that has now been achieved in the sale to MJD. The closing of the transaction is scheduled for the end of February 2019. (ah)