Swiss Prime Investment Foundation acquires 33 properties from Ringier pension fund
The portfolio of SPA Immobilien Schweiz grows by CHF 231 million through contribution in kind of 33 properties of PVS Ringier.
SPA Real Estate Switzerland takes a step forward in growth (Image: stokkete - depositphotos)
Swiss Prime Investment Foundation acquires 33 properties for the SPA Real Estate Switzerland investment group as part of a contribution in kind by the Ringier Group Pension Fund (PVS Ringier). Their total value of CHF 231 million brings the market value of the real estate portfolio to over CHF 3.5 billion. "The PVS Ringier portfolio is an ideal fit with the existing portfolio due to its large residential component of around 85% and its broad regional allocation in good to very good locations," says Jérôme Baumann, Chairman of the Board of Trustees and Delegate of Swiss Prime Investment Foundation. We are gaining "a new investor with a long-standing commitment to the investment foundation.
Two thirds of the properties are located in the cantons of Aargau and Lucerne. The remaining properties are located in the cantons of Berne, Geneva, Zug and Zurich. The acquired portfolio has a vacancy rate of less than 4%. Over 70% of the properties have been refurbished and are in a "very well-maintained condition". The transfer of ownership took place on August 16.
Opening of the SPA Real Estate Switzerland investment group
The SPA has already communicated that the investment group will be opened for a further issue. The subscription period runs from August 29 to September 23, 2022. (aw)
