Allreal: Major acquisition in western Switzerland
Allreal massively expands its presence in western Switzerland: the company acquires individual companies of Immosynergies Holding, including a large real estate portfolio.
According to Allreal, the acquisition comprises a "qualitatively first-class portfolio" of investment properties worth around CHF 500 million and development properties worth CHF 210 million, with a potential investment volume of more than CHF 700 million. In addition, Allreal is acquiring Roof, a general contractor with 45 employees that belongs to the Immosynergies Group and mainly implements its own projects. According to Allreal, the net purchase price of the entire transaction is expected to be CHF 400 million.
The acquisition significantly expands and diversifies the real estate company's portfolio, adding 20 investment properties and four investment properties under construction, almost all of which are in prime locations in the canton of Geneva. According to the company, the total market value of Allreal's investment properties will increase to 5.1 billion, and the additional target annual rental income from the acquired investment properties will amount to more than 15 million. At the same time, the residential share of total rental income will rise from 22% to 26%.
The contracts were signed on September 15, 2021, with closing to follow in the second half of October. (ah)
