Swissinvest Acquires Osterwalder Real Estate
The purchase of seven properties for 150 million Swiss francs had already been announced in May, though at that time the seller was not named.
Pensimo Fondsleitung has completed the previously announced acquisition of a real estate portfolio in the greater Zurich area for the publicly traded Swissinvest Real Estate Fund. The portfolio consists of properties owned by Osterwalder Immobilien Zürich AG, as Pensimo has now announced. The share purchase agreement was finalized on July 1.
The portfolio comprises a total of seven properties, which, according to the information provided, are either new or have been renovated to like-new condition. The properties are primarily residential, but also offer development potential. They are located in the city of Zurich, Kilchberg, Stäfa, Volketswil, and Oberhasli (ZH). The investment volume amounts to approximately CHF 150.6 million, with a projected rental income of approximately CHF 4.84 million. Financing is primarily provided through debt. «At the same time, the fund management is considering selective property sales as part of its ongoing portfolio optimization,» Pensimo announced.
In addition, the transaction includes six recently completed semi-detached single-family homes in the canton of Aargau, which are to be sold because they do not fit the fund’s investment profile. The largest property in the portfolio is the Osterwalder Tower at Neunbrunnenstrasse 38/40 in Zurich, which features 51 apartments, two retail spaces, and one office floor. Swissinvest had announced the portfolio acquisition in May (IB reported).
Real estate services firm JLL announced that it structured and executed the transaction on behalf of the shareholders of Osterwald Immobilien. (aw)
