The Swisscanto (CH) Real Estate Fund Responsible Swiss Commercial is expanding its portfolio with two attractive commercial properties in Kreuzlingen and Suhr.
Zurich, November 8, 2021 – The Swisscanto (CH) Real Estate Fund Responsible Swiss Commercial («Swiss Commercial», ISIN: CH0111959190) acquired two commercial properties in the communes of Kreuzlingen (TG) and Suhr (AG) in context with the recent capital increase. The market value of the two properties is approx. CHF 61 million which corresponds to a gross yield on the purchase price of approx. 4.5%. Ownership of the property in Suhr was transferred on November 1, 2021, and ownership of the property in Kreuzlingen will take effect as of January 1, 2022. With the acquisitions, the capital increase was entirely invested in a targeted and timely manner.
«The two acquisitions allow us to take another step in our responsible growth path and strengthen the fund's cash flow stability and diversification», says Patrick Schmid, fund manager of the Swiss Commercial.
The property in Kreuzlingen is the local shopping center Seepark in Kreuzlingen. The shopping center was opened in 1976 and has been extensively revitalized and realigned in terms of tenant mix in 2021. The anchor tenant is a well-known food retailer with a long-term lease. Other tenants are from the fitness and food sectors. The shopping center is almost fully leased and has an attractive WAULT of over 11 years.
The property Bernstrasse Ost 24 in Suhr is located in a shopping and logistics cluster near Aarau with very good access to the highway. The building, which was built in 2000, is in good condition and currently leased on a long-term basis to a large and well-known furniture retailer. The property offers an attractive WAULT of over 12 years and can be transformed to multi-tenant space.
This publication is solely for information and advertising purposes. It is intended for dissemination in Switzerland and is not aimed at investors in other countries. This publication was prepared by Zürcher Kantonalbank with customary due diligence. However, Zürcher Kantonalbank provides no warranty as to the correctness and completeness of the information contained therein and accepts no liability for any losses that may be incurred as a result of using this publication. This publication is neither an offer to enter into a contract nor an invitation to make an offer for products and services. It does not constitute an offer or recommendation to buy, hold or sell financial instruments. The products and services described in this publication are not available to US persons under applicable regulations. Past performance and returns are no guarantee of future investment performance. Every investment involves risks, especially risks related to fluctuations in value and returns. The current fund documents (e.g. fund contracts, terms of contract, prospectuses and/or key investor information as well as annual reports) can be obtained from www.swisscanto.com, from Swisscanto Fondsleitung AG, Bahnhofstrasse 9, 8001 Zurich or at any branch of Zürcher Kantonalbank. © 2021 Zürcher Kantonalbank