SPA investment group yields 6.4%

As shown in the report for the fourth quarter of 2021, investments in projects and the revaluation effect resulted in the fair value of the real estate portfolio of the SPA Immobilien Schweiz investment group increasing to CHF 2.96 billion as of the end of the year (2020: 2.57 billion). The vacancy rate decreased from 4.02% to 3.44%.

The market value of the portfolio increased by 165 million in the second half of 2021 alone - partly due to acquisitions, project investments and capital gains from the end-of-year valuation, the report continues. In terms of existing properties, the highest appreciation occurred in central regions such as Geneva, Zurich and Berne. The largest increase in target income in absolute terms was recorded by the "Leuenhof" property on Bahnhofstrasse in Zurich.

In the fourth quarter of 2021, the purchase of properties in Lugano and Bellinzona was notarized; the transfer of ownership took place at the beginning of January 2022. The acquisition in Bellinzona is an office property with eight apartments directly by the train station; the main user is Credit Suisse. The commercial property in Lugano is in a prime location in the center of the city and close to the lake. Here, too, Credit Suisse is the sole tenant with a long-term lease. The acquisitions increased the target rental income by CHF 1.9 million, according to the quarterly report. (ah)