Sustainable Real Estate Switzerland announces three acquisitions and plans capital increase
The Sustainable Real Estate Switzerland fund has expanded its portfolio with properties in Thun, St. Gallen and Belp.
A few days ago, Sustainable Real Estate Switzerland signed a purchase agreement for a property in Thun with 1,508 m² of residential and 2,257 m² of retail space. Sustainable Real Estate AG states the investment volume for the property at CHF 28 million. Part of the complex was built in 1973 and renovated in 2005, the other part was built in 2005. All 14 apartments, the 6 retail spaces as well as 4 offices or practices with a total of 499 m² and a restaurant with 269 m² are rented. Heating is provided by a groundwater heat pump.
Two further acquisitions are already included in the report for the 2nd quarter:
- In Belp (Canton of Bern), the fund acquired a 1,831 m² building. Tenants of the commercial space of 1,351 m² are a media company, a cinema and a gym. The residential space is distributed over 5 units. The building, built in 2007, has a groundwater heat pump. The market value is CHF 8.2 million.
- Already in November, Sustainable Real Estate purchased a new building with 24 apartments in Zürcherstrasse in St. Gallen. The property, which was also occupied in November and has a market value of CHF 10.1 million, has 24 apartments with 1,354 m² of rental space and heat pump with ground probe and a photovoltaic system. About this purchase we have already reported.
In addition, the fund has three residentialNew construction projects underway, namely one in Obfelden (Canton Zurich) with planned Completion in December 2022, of a in Lausanne with Completion in May 2023 and another in Vernier (Kant Geneva) with Forward-Purchase and Completion in February 2023. The investment sum for all properties totals 95 million. CHF.
Capital increase announced
A capital increase of approximately CHF 50-60 million is planned at the end of October 2022 to finance the portfolio expansion. According to the quarterly report, total fund assets amounted to CHF 407 million as of June 30, 2021. The target gross yield of the portfolio is 4.0 %. (aw)
