GreySky acquires large real estate portfolio
GreySky Residential Properties has acquired a portfolio of eleven properties. According to the company, the properties are located in several cantons, with a focus on Basel.
The portfolio acquired by GreySky Residential Properties AG comprises a total of 118 apartments with a rentable area of around 7,400 sqm. According to the company, the current annual net rent amounts to CHF 1.76 million, with an average rent per square meter of CHF 238 per year. Robin Lauber, CEO of GreySky Residential Properties, said the transactions nearly doubled the total annual net cold rent of the portfolio to around CHF 3.11 million and significantly increased the gross asset value.
The signing already took place at the end of March. The closing will take place in several steps and is expected for the majority of the properties by the end of the second quarter of 2021, GreySky says. For one property, where conversion work is pending, the closing will only take place after completion of the work, probably at the end of 2021 or in the first quarter of 2022. The first closing has already taken place. The property in question is an apartment building near Messe Basel. According to GreySky, the property has a lettable area of around 1,300 sqm and the current net annual cold rent is just under CHF 320,000.
GreySky Residential Properties, based in Basel, is engaged in the development of a residential real estate portfolio, with a focus on residential properties in central urban locations as well as in peripheral locations in Swiss metropolitan areas. (ah)
