Swiss Prime Investment Foundation: Transactions in prospect
According to its own information, Swiss Prime Investment Foundation has made a successful start to the new financial year 2021. The proceeds from the latest issue are to be invested in acquisitions.
As part of the eighth issue of the SPA Real Estate Switzerland investment group, Swiss Prime Investment Foundation (SPA) received new money of around CHF 91 million. The SPA intends to use the proceeds from the issue to further expand its real estate portfolio. Three properties in the cantons of Schwyz (existing properties), Neuchâtel (new building) and Basel-Landschaft (development project) have been awarded. According to the SPA, these are various types of residential properties, some of which have a commercial base. The transactions are scheduled for completion in the second quarter of 2021.
According to SPA, the SPA Real Estate Switzerland investment group closed the first quarter of 2021 with an investment return of 1.13%, compared with 0.83% in the first quarter of the previous year. This includes a positive one-off effect of 0.25% due to the increase in the minimum holding period of the properties from five to ten years and a resulting reduction in deferred taxes. The property portfolio (market value) increased from 2.27 billion to 2.67 billion. The vacancy rate fell from 4.36% to a record low of 3.53%. (ah)
