Dominicé fund has purchased for 64 million francs
The fund's latest capital increase was fully subscribed. Three residential properties in Lausanne and the surrounding area were purchased. Three further purchases are also in the pipeline.
The Dominicé Swiss Property Fund (DSPF) has completed its capital increase. With the subscription of 462,500 new units, the real estate fund has received a total of CHF 58.97 million. These funds and the proceeds from the last capital increase in November were used to acquire three residential properties in the canton of Vaud for a total purchase price of CHF 64 million. This increases the portfolio value to around CHF 774 million.
The fund purchased the property at 40-42 Avenue d'Echallens in Lausanne for CHF 20 million. It comprises two listed buildings in a central location between the city center and the Flon district. There are 42 apartments with two to five rooms. Both buildings have an elevator and offer a total of ten parking spaces. According to the fund management, the rental reserve amounts to 35 %.
The DSPF acquired Avenue Jean-Daniel-Abram-Davel 19 in Lausanne for CHF 10 million. This residential building is centrally located between Lausanne railroad station and the city center. It comprises 35 apartments, ranging from studios to 4-room apartments. Facilities include nine indoor parking spaces and storage rooms for bicycles and baby carriages. The apartments on the upper floors offer views of Lake Geneva. The rental reserve is 75 %.
The property at Route de Cité-Ouest 21-29 in Gland has been transferred to the fund's assets for CHF 34 million using the proceeds from the capital increase in November. The apartments have up to 6.5 rooms and the building also has 138 parking spaces, 75 of which are in the basement. According to Dominicé, the rental reserve amounts to 63 % and a planned revision of the neighborhood plan offers the prospect of higher densification.
Three further properties secured
The fund also announced that, in addition to the acquisitions already finalized, three further residential properties in Clarens, Renens and the center of Lausanne have been secured. The purchase price reportedly amounts to a total of CHF 42 million. These transactions are expected to be completed in spring 2025, although the municipalities have a statutory right of first refusal. (aw)
