Residentia: Acquisition of a residential portfolio
UBS Real Estate Switzerland's real estate fund Residentia has acquired a portfolio of two residential properties in Lugano and Caslano.
According to UBS, the property in Lugano comprises five apartments, of which those on the upper floors have a lake view. The property in Caslano has 30 residential units as well as 38 indoor and eleven outdoor parking spaces.
According to UBS, the investment volume for the two properties amounts to just under CHF 10 million. The acquisition will increase the earning power of the property portfolio and is in line with the strategic direction of the fund - an increase in the proportion of residential use.
The portfolio deal is Residentia's first acquisition since UBS Real Estate Switzerland took over fund management in February 2021. (ah)
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