Investment Foundation 1291 expands portfolio
1291 The Swiss investment foundation has added five residential properties to its portfolio - by means of a contribution in kind from an employee benefits foundation.
The 1291 Swiss Investment Foundation acquires a residential real estate portfolio from the Spaeter Group Pension Fund in Basel by means of a contribution in kind or transfer of assets and partial cash settlement.
The portfolio consists of properties in Basel-Stadt, Birsfelden (BL), Füllinsdorf (BL), Möhlin (AG) and Chur (GR). The five properties comprise a total of 101 apartments and some smaller commercial spaces. The gross yield of the portfolio is reportedly just under 4%.
With the contribution of the portfolio as a contribution in kind, the Spaeter Group Pension Fund has joined the 1291 Investment Foundation. With the transaction, the value of the broadly diversified property portfolio now exceeds CHF 560 million. Around 79% of the target rental income comes from residential use. (ah)
