Swiss Prime Investment Foundation makes substantial purchases
Swiss Prime Investment Foundation acquired a total of 14 properties in the second quarter, six of them in the city of Zurich.
The 14 newly acquired properties are all located in German-speaking Switzerland. In the city of Zurich, Swiss Prime Investment Foundation has acquired one residential building, four mixed-use properties and one commercial property, according to a statement.
It has purchased a further five properties in the canton of Zurich: two
residential properties, one mixed-use property and two commercial properties. In addition, it acquired one commercial property in the canton of Glarus and one mixed-use property each in the cantons of Thurgau and St. Gallen.
One property was already taken over in April, and twelve properties were transferred to the Swiss Prime Investment Foundation portfolio as of June 1, 2019. The last property is to be taken over after project completion in 2020.
The market value of the properties reportedly totals around CHF 320 million. The gross yield of the properties is put at around 3.9%, which is above the average of the portfolio as of December 31, 2018, according to the investment foundation.
According to the Swiss Prime Investment Foundation, it has acquired a total of around 600 million residential and commercial properties within eight months. With the newly acquired properties, the portfolio will increase to around 2.2 billion by mid-2019. (ah)
