UBS Direct Residential buys residential portfolio
The UBS Direct Residential real estate fund has acquired a portfolio of six properties. For the first time, the fund is also investing in Geneva.
The portfolio acquired by UBS Direct Residential is geographically diversified, UBS says. The properties are in good to very good locations in Geneva, Villars-sur-Glâne (FR), Biberist (SO), Muttenz (BL), Hochdorf (LU) and Wettingen (AG) and have a "solid earning power" that can be further increased by future renovations, it adds.
Except for the property in Biberist, which also includes retail space, all properties are used for residential purposes only. In total, the portfolio has 121 apartments; the investment volume was CHF 57 million.
With this portfolio purchase, UBS Direct Residential also acquired its first property in the canton of Geneva and is now represented in all three cantons of western Switzerland. CBRE was the exclusive transaction advisor. (ah)
