SPA Real Estate Switzerland increases investment return
According to a quarterly update, the Swiss Prime AST investment group has reduced the vacancy rate and further expanded the portfolio.
The "SPA Real Estate Switzerland" investment group closed the 3rd quarter with a cumulative investment return of 2.7% (Q3 2023: 1.7%). Acquisitions and project investments increased the market value of the real estate portfolio from around CHF 3.9 billion in the same quarter of the previous year to CHF 4.1 billion. By contrast, the vacancy rate fell from 1.8 to 1.7% over the course of the 3rd quarter.
One of the main events during the period was the acquisition of construction site D at the Cherpines residential project in Plan-les-Ouates (GE). There were also four sales - two smaller properties that are reportedly not ESG-compliant and two residential and nursing homes in Ecublens, which are operated by Tertianum. The sale of the two operator properties increases the proportion of traditional residential properties in the fund, according to the statement.
An issue of the investment group has been running since October 14. The subscription period ends on November 15. (aw)
