Patrimonium: Investment group buys residential portfolio
Four residential properties in the Geneva, Basel and Zurich regions were added to the portfolio for CHF 52 million.
The Swiss residential real estate investment group of the Patrimonium Investment Foundation has acquired four residential properties with a total investment volume of around CHF 52 million. The properties comprise 70 apartments and are reportedly located «within resilient micro-locations in the Swiss agglomerations of Geneva, Basel and Zurich, with positive demographic trends».
Three of the four properties were acquired “off-market” directly from private sellers. All buildings are currently fully let and, according to Patrimonium, rents are below the 30% quantile of Wüest Partner's regional benchmarks. This promises «potential for sustainable long-term rental growth».
With these acquisitions, the residential share in the portfolio of the Investment Foundation's Swiss residential real estate investment group has risen to over 87 %.
