Suisse Romande Property Fund sells commercial properties
The real estate fund has disposed of three properties. The transactions are related to the strategic realignment of the fund.
The fund management company JSS Real Estate Management AG (JSSREM) of the Suisse Romande Property Fund (SRPF) is making progress with the repositioning of the fund as a residential fund. At the end of November 2023, the forward sales of three commercial buildings in Lausanne, Fribourg and Delémont were signed for a volume of over CHF 40 million, JSSREM announced.
The sales prices are in line with the market values, confirming the level of the portfolio's net asset value and the justification of the corrections made to the valuations over the past twelve months, JSSREM added.
The fund will use the sales proceeds to reduce the debt ratio. In a second step, the SRPF intends to take advantage of opportunities to purchase residential properties in the coming year and start building the planned extensions.
JSSREM also announced that vacant commercial space was re-let in the second half of 2023. SRPF also took over five apartments and a commercial unit in Bulle (FR) and five further apartments in Lausanne. (ah)
