Swisscanto AST grows by 15 properties

One of the two contributions in kind relates to the real estate portfolio of Constivita Immobilien Anlagestiftung. It was completed at the beginning of 2023. A total of nine properties in the city of Bern (3), Langenthal (BE), Spreitenbach (AG), Bad Ragaz (SG), Dübendorf (ZH), Kilchberg (ZH) and in the Seefeld district of Zurich were transferred to the investment group. Around 83% of the portfolio value is located in good to excellent locations. The portfolio vacancy amounts to a low 0.43%.

As of the beginning of 2023, the real estate portfolio of the pension fund of the municipality of Männedorf (ZH) was also acquired by way of a contribution in kind. The portfolio comprises two residential developments located in Männedorf with a total of 36 apartments. The properties are fully leased and have rental and development potential.

Further acquisitions: residential in Zurich region, mixed-use site in Männedorf and office in St. Gallen

Three further properties in the greater Zurich area (Zurich, Thalwil, Männedorf), a commercial property in St. Gallen and the acquisition of a co-ownership share in Zurich were also acquired through cash purchases.

• The property Bergstrasse 53-57 in Zurich is located on the Zürichberg and offers the possibility of a new building in the medium term.
• The residential development in Thalwil is located on a hillside between Lake Zurich and the train station. According to Swisscanto, the apartments have a high standard of finish and the best view of Lake Zurich.
• The Emil-Staub-Strasse 1-5 property in Männedorf is a site with six almost fully leased buildings with residential, office, commercial and restaurant uses in an attractive location near the lake.
• The commercial property at St. Leonhard-Strasse 3 in St. Gallen is located in an inner-city location within short walking distance of the railroad station and the old town. The office space of the property (over 90% of rental income) is leased on a long-term basis.

Finally, Swisscanto announces that the co-ownership share in the property Bahnhofstrasse 71 in Zurich has been increased from 25% to 26%.

Portfolio is now 387 million heavier

The estimated market value of all portfolio additions (contributions in kind and acquisitions) in the current financial year is around CHF 387 million, which corresponds to 4.4% of the real estate assets at the time of the last transaction on 30.6.2022. The average gross yield on the purchase price of 3.5% is roughly on a par with the existing portfolio, while the average vacancy rate is significantly lower. (aw)