Swisscanto fund buys up
The Swisscanto (CH) Real Estate Fund IFCA has acquired two properties in Lucerne and Zurich-Schlieren.
According to Swisscanto, the market value of the two properties is around CHF 54 million. The vacancy rate is 0.4%.
According to the information, the property in Lucerne is centrally located in Lucerne's city center. The lower floors are used for commercial purposes, and there are 2.5- to 3.5-room apartments with high-quality finishes on seven floors. The first floor is occupied by a major retailer with a long-term lease, Swisscanto said. The property was extensively renovated in 2005 and is almost fully leased, it said.
The property in Zurich-Schlieren consists of two apartment buildings with 27 residential units. The 3.5- to 4.5-room apartments are positioned in the mid-price segment, according to Swisscanto. The property was built in 1982 and partially renovated in 1996. In addition to the existing public transport connections, a Limmattalbahn stop is being built within walking distance of the property, which will further increase the attractiveness of the location.
The start date is retroactive to March 1, 2019 for the property in Zurich-Schlieren and April 1, 2019 for the property in Lucerne.
The Swisscanto (CH) Real Estate Fund IFCA invests in real estate assets with residential use in all market regions of Switzerland. A core investment style with a long-term and low-risk investment horizon is pursued. The aim is to achieve a stable current income with long-term capital preservation. (ah)
