La Foncière with acquisition in Geneva
The fund has acquired a property in the neighborhood of a completed project.
La Foncière is expanding its portfolio in Geneva with the acquisition of a new building at 93 Rue de la Servette. The fund recently completed a neighboring project at 89 abc. The new transaction has consolidated the real estate complex and at the same time strengthened the fund's presence "in one of Geneva's most dynamic districts", according to a statement.
The acquired building meets the standards of high energy efficiency (HPE) and is located opposite the "Servette" stop. The property is reportedly let at 100 % with two 20-year leases. "We are delighted to be able to add this first-class building to our portfolio in Geneva," said Michael Loose, CEO of Investissements Fonciers SA (IFSA), earlier this week. According to his company, Cifi, BDO and CMS were involved in the transaction.
A hotel from the Stay Kooook chain has opened in the complex. Migros also has a supermarket at the address. (aw)
