SF Retail Properties Fund buys in Vernier
The SF Retail Properties Fund has acquired a property in Vernier. This brings the portfolio value of the fund to 735 million.
According to Swiss Finance & Property Funds, the market value of the property in Vernier is CHF 17.28 million. The fund acquired it for 16.55 million. The gross yield at MW is put at 6.13%.
The Center l'Avanchet reportedly comprises a leasable area of around 5,500 sqm. The anchor tenant is the discount store Aldi, and there is also a pharmacy, a restaurant and the Vernier library.
With the acquisition, the portfolio of the SF Retail Properties Fund comprises 86 properties in 19 cantons.
The fund management further announces that the renovation work on the Center Bioggio property has now been completed after a construction period of 18 months and investments amounting to 8 million. Among other things, a photovoltaic system was installed.
Tenants in Center Bioggio are Coop, Tigotà and Café Sophie. In addition, Swiss Finance & Property says it is in initial talks with potential tenants for vacant space on the mezzanine and second floor. After the investments, the center's market value has risen to about 19 million.
In order to drive the growth of the fund, Swiss Finance & Property is currently considering a capital increase of up to 55 million. The new capital would be used for further acquisitions and to repay debt, it says. (ah)
