Swissinvest with «substantial portfolio additions»

Pensimo Fondsleitung AG is planning a capital increase of around CHF 150 to 200 million in the first quarter of 2026 for the listed real estate fund Swissinvest Real Estate Fund. The proceeds will be used to repay debt in connection with the purchase of two properties in the city of Zurich.

Two purchases in Zurich

Swissinvest completed two «substantial acquisitions» in the city of Zurich with retroactive effect from December 1 and December 15 respectively, with an investment volume of around CHF 210 million. As a result, the debt ratio is expected to rise to 31 % as at the half-year closing date. The proceeds from the planned capital increase will be used to repay debt capital and further expand the portfolio.

One of the two properties acquired is a residential and commercial property in the Wiedikon district. It was built in 1982 and renovated to the Minergie standard in 2013. 53 apartments, retail, office and storage space as well as an underground garage with around 190 parking spaces result in almost 12,500 square meters of rentable space and an annual target rental income of CHF 4.4 million. The property with anchor tenant Coop is practically fully let and has a WAULT of 4.1 years. According to Pensimo, there is also the potential to convert existing office space into residential space with simple measures. The investment volume amounts to around CHF 134 million.

Conversion planned in Oerlikon

Secondly, Swissinvest acquired an office property in Zurich-Oerlikon, jointly owned with the Pensimo investment foundation. The Minergie-certified building, which was constructed in 2002, offers a total of around 25,500 square meters of rentable space with an annual target rental income of CHF 7.4 million. The occupancy rate is around 90 % with a WAULT of 3.1 years. The property is located in the seven-storey center zone and directly opposite the «Thurgauerstrasse» site, one of the largest building land reserves in the city of Zurich. «This offers interesting development potential in which the two owners of the Pensimo Group are investing strategically,» according to a press release. Over the next 10 to 15 years, it is planned to continue the repositioning of the property that has already been initiated. The concept envisages a flexible range of office space that can be occupied by future tenants without significant additional investment. «In the long term, there is the prospect of densification with residential use at this location, according to current knowledge, around 400 apartments,» Pensimo continues. The current total investment volume is around CHF 151 million and Swissinvest's share is CHF 76 million.

The sale of the property at Thurgauerstrasse 80 was structured and carried out on the JLL sales page. According to IB research, the property is part of the portfolio of the UBS fund «1a Immo PK», which still lists it under existing properties in its latest annual report. (aw)