Steiner Invest investment groups on course for growth
The Steiner Investment Foundation is planning further acquisitions for the two investment groups in the third quarter of this year. Capital calls are planned for this purpose.
The Swiss Development Residential investment group currently holds 36 projects with a cumulative completion value of CHF 1.58 billion in its portfolio, following the acquisition of six additional development projects, according to the Steiner Investment Foundation. The investment group's current invested capital has increased to 536.7 million, and its NAV reached CHF 122.10 in the second quarter, it said. This represents an annualized return of 6.15% since launch in 2017, Steiner Invest said.
According to the investment foundation, the Swiss Development Commercial investment group made its second acquisition in the second quarter of 2020 with the ZOWO project. Construction on ZOWO, an office and commercial property, is expected to begin imminently. 80% of the commercial space has already been leased. Thus, the investment group currently holds two properties in good locations in the canton of Bern. (ah)
