ZAST: Investment Group Real Estate Residential Switzerland buys in Zurich and the Canton of Lucerne

The Real Estate Residential Switzerland investment group of Zurich Investment Foundation (ZAST) carried out a CHF 250 million capital increase in mid-July. ZAST is using the proceeds of the issue, which was reportedly significantly oversubscribed, to purchase a construction project in Zurich as well as six apartment buildings in the canton of Lucerne.

• ZAST is acquiring land on Austrasse in Zurich for a project for three residential buildings with 269 apartments. Construction has already started. ZAST is having the buildings certified to Gold level in accordance with the Swiss Sustainable Building Standard (SNBS). They meet the objectives of the 2000-watt society as well as the requirements of Minergie-Eco. The facades are partially greened, and recycled concrete, among other materials, is used in the construction. The building project produces heat by means of ground-source heat pumps. In addition, photovoltaic systems will produce the building's own electricity.
• In the canton of Lucerne, ZAST purchases six newly built apartment buildings with 61 apartments in the St. Erhard district of the municipality of Knutwil. The property is already fully rented at the time of acquisition. The roofs of the buildings are greened, photovoltaic systems are used for general and heating electricity.

The "Real Estate Residential Switzerland" investment group invests in residential properties throughout Switzerland and manages properties in this investment group worth just under CHF 3 billion. Targets are a reduction of CO² emissions by 20% by 2025 and net zero carbon emissions by 2050. (aw)