Ina Invest: Acquisition of the Ceres Group
Ina Invest becomes majority owner of Ceres Group Holding, which owns the Bredella development project in Pratteln, among others. A large residential and commercial development is planned there.
Together with its investment partners, Ina Invest is taking over Ceres Group Holding from Lucerne-based entrepreneur and investor Hermann Alexander Beyeler. According to the real estate company, the contracts were signed on 15 December 2021 and the closing of the transaction is scheduled for January 2022. The parties have agreed not to disclose the purchase price.
Pratteln industrial park becomes the Bredella district
The core of the Ceres portfolio is the Buss site to the north of the Pratteln railway station. The industrial and commercial park is currently home to 100 companies with around 1,100 jobs. Over the next 20 years, the Bredella project is to be realised on the site, which has a land area of 82,600 sqm and a realisable floor space of 172,500 sqm, a quarter with residential and commercial uses. More than 1,000 apartments (70% residential) and 30% of commercial space are planned. The development will increase the market value of the property from around CHF 300 million today to over CHF 1 billion including condominium projects, Ina Invest says.
According to Ina Invest, all of the existing properties acquired are now used commercially and, with a lettable area of 60,000 sqm, generate annual gross rental income of more than 8.6 million euros. In addition, the transformation efforts are well advanced: there is a master plan for the entire site, and the quarter plan procedure is underway for the western part.
The 17 employees of Buss Immobilien und Services AG will be taken over by Ina Invest and will continue to be responsible for the administration and maintenance of the industrial park. The current tenants will continue to be offered suitable space on the site as part of the site development. HRS Real Estate AG, which was previously responsible for the Bredella project development and played a key role in the success of the transaction, will realise around 50% of the planned construction sum as a total contractor. Ina Invest intends to hand over further project development to Implenia, which is also to carry out 50% of the construction volume.
Beyeler acquires 10% Ina-Invest shares
With the acquired real estate portfolio, mortgages of around 110 million will be transferred to the buyer, Ina Invest further announces. The company will pay part of the purchase price in the form of shares at a price of CHF 22.00 per share, which corresponds to a premium of 17.9% compared to the closing price as of 15.12.2021. In total, Ina Invest is transferring shares amounting to 10% of the current share capital to Hermann Beyeler, who is thus taking a long-term stake in the company. He says he is pleased to remain associated with the Bredella project and to help shape Pratteln's development into a residential community. With the sale, the Lucerne investor also settles his entrepreneurial succession.
Ina Invest describes the acquisition of the Ceres Group as "a significant milestone". It significantly accelerates growth and strengthens the company's position in northwestern Switzerland in the long term. With the transaction, the current market value of the real estate portfolio rises to almost 700 million and Ina Invest thus holds one of the largest development portfolios in Switzerland. Alongside Lokstadt in Winterthur, Bredella in Pratteln is "another flagship project for sustainable site development".
Daniel Baumann appointed CFO
Ina Invest also announces that Daniel Baumann has been appointed Chief Financial Officer (CFO) with effect from 1 January 2022. The business economist and auditor has worked for Implenia since 2013, most recently as Business Partner Finance in the Real Estate Division. Since the spin-off and IPO in June 2020, he has also supported Ina Invest in all business management matters and played a key role in shaping the company. (ah)
