Swisscanto AST makes an acquisition

Swisscanto AST Immobilien Schweiz now holds the Waldegg center, which is used for mixed commercial purposes, in its portfolio; according to the investment foundation, the transfer of ownership took place on July 1 of this year.  The property is located in the municipality of Uitikon-Waldegg, which in turn borders directly on the city of Zurich and has experienced above-average population growth in recent years.  

According to Swisscanto, 65% of the rental income comes from the areas of local food supply and health services. Currently, the property is "virtually fully leased". The anchor tenant is Migros Genossenschaft Zürich. The WAULT is reportedly around seven years. 

In addition, in June, Swisscanto AST Real Estate Switzerland Offmarket-In the course of the transaction, the Foundation acquired a further co-ownership share of 1% in the core property Bahnhofstrasse 71 in Zurich. The investment foundation now holds a stake of 25%. Due to its absolute core location, the property represents a top investment in the long term, despite the substantial retail share, according to Swisscanto.  On the purchase price also resulted in an attractive for the location IRR Real of over 3% or a gross yield of about 3.8%.  (ah)