SPA Immobilien Schweiz increases portfolio value

According to the quarterly report of the SPA Immobilien Schweiz investment group, the market value of the portfolio increased from CHF 2.7 billion to CHF 3.1 billion compared to the same period last year. Transactions and investments in projects were responsible for the increase, according to Swiss Prime Investment Foundation (SPA). The cumulative investment return for the quarter is put at 0.96% (previous year: 1.13%). With a vacancy rate of 2.69% (previous year: 3.53%), the SPA reports the lowest level since the establishment of the investment foundation.

In the first quarter of this year, the investment foundation transferred the Tribsche new construction project in Lucerne with 159 residential units to its portfolio. In addition, a logistics property in Avenches was acquired. The property is a logistics hall that has development potential for doubling the current space, the investment foundation says. In addition, the investment group built up an acquisition pipeline in the first quarter and negotiated exclusivity for several large projects with a volume of over CHF 100 million in the major agglomerations of Zurich and Geneva.

At the Riverside development in Zuchwil, the new RiversideLiving I project with 140 apartments, a restaurant and extensive landscaping is being implemented on schedule. In March, two more houses were handed over to the new residents, and in September, the highest and last of the five houses, the Aarehuus, is to be occupied.

Another highlight of the quarter: In February, the first Swiss AP House of the haute horlogerie manufacturer Audemars Piguet opened on 700 square meters in the listed Leuenhof on Bahnhofstrasse in Zurich. (ah)