Tag: Immobilienfonds

  • Data-driven decisions for green real estate strategies

    Data-driven decisions for green real estate strategies

    Empiraintends to utilise Zurich-basedOptimI’s Real Estate Decision Intelligence (REDI) to strengthen data-driven decision-making in the areas of investment, funds, asset management and sustainability management. According to a statement, the aim is to develop an integrated approach that holistically combines financial performance, climate impact and regulatory requirements. OptimI’s REDI platform supports Empira in making informed investment decisions, developing scientifically sound decarbonisation pathways at fund and asset level, and planning capital-efficient investment and refurbishment strategies.

    Empira uses the platform in particular in the context of its Transition to Green Fund, which targets energy-inefficient properties with repositioning potential and utilises government incentives for green refurbishments and comprehensive asset management to create high-quality, sustainable residential and office properties.

    “Digital decision intelligence is essential today to achieve both stable returns and credible decarbonisation, starting from the moment we receive an initial investment memorandum,” said Torsten Bergmann, Vice President of Investment Advisory at Empira. “Optiml provides us with the analytical depth we need to achieve consistent, scalable impact across all our funds and supports our transition-to-green strategy with reliable decision-making processes.”

    According to the announcement, the introduction of the OptimI solution underscores the industry trend toward data-driven asset optimisation, in which sustainability and financial performance are assessed holistically. The real estate sector is responsible for around 40 per cent of total energy-related CO2 emissions worldwide. Industry players are therefore increasingly obliged to present credible and financially robust decarbonisation strategies.

  • Positive market trend strengthens portfolio development

    Positive market trend strengthens portfolio development

    The listed real estate fund Swiss Life REF (CH) ESG Swiss Properties recorded a significant increase in total income of CHF 121.5 million for the 2024/2025 financial year, compared to CHF 57.6 million in 2023/2024, according to a statement from Swiss Life. The return on investment was 5.1 per cent.

    The reason for the positive performance is the 2.4 per cent net change in the market value of its properties. As at 30 September 2025, the fund held a total of 194 portfolio properties with a market value of CHF 3,233 million. The fund only recorded a decline in net income, which is mainly due to higher income taxes.

    The net asset value (NAV) per unit increased to CHF 116.65, which corresponds to an increase of 2.6 per cent compared to the previous year. The total distribution for 2024/2025, which will take place on 28 November 2025, amounts to CHF 2.70 per unit (CHF 58.3 million in total), with realised income of CHF 2.71 per unit (CHF 58.5 million in total). In relation to the market price, the distribution yield is therefore 2.03 per cent; in relation to the NAV, it is 2.31 per cent.

    The fund’s portfolio grew by one residential property in 2024/2025, while eight smaller properties were sold. These transactions led to a net capital gain totalling CHF 6.1 million and, thanks in part to the positive changes in the market value of the properties, to a reduction in the leverage ratio to 20.6 per cent (2024: 22.1 per cent). The total return in the reporting period was 14.8 per cent.

  • New shares to finance construction projects and acquisitions

    New shares to finance construction projects and acquisitions

    Zurich Invest Ltd is increasing the resources for the ZIF Real Estate Direct Switzerland fund. The fund management company, which belongs to Zurich Insurance Company Ltd, announced in a press release that around 100 million Swiss francs will be raised between 10 and 21 November. It intends to use the funds to finance ongoing construction projects and for selective acquisitions.

    Shareholders have the right to acquire one new share for every ten existing shares. A maximum of 960,411 new shares are to be issued at an issue price of 112.16 Swiss francs. The new units are scheduled to be paid out on 28 November 2025.

    The ZIF Real Estate Direct Switzerland fund currently comprises 60 properties with a total market value of CHF 1.5 billion. Residential properties, mainly in the Zurich and Lake Geneva regions, account for 86 per cent. Launched at the end of 2018, the fund was listed on the SIX Swiss Exchange in 2023.

  • High sustainability standards confirmed for property portfolios

    High sustainability standards confirmed for property portfolios

    Three Helvetia real estate investment vehicles have received excellent ratings in this year’s Global Real Estate Sustainability Benchmark(GRESB), the Helvetia Group announced in a press release. The listed real estate fund Helvetia (CH) Swiss Property Fund of Helvetia Asset Management AG and the real estate investment group Real Estate Romandie of the Helvetia Investment Foundation were each awarded a 5-star rating with 90 out of a possible 100 points. The Swiss Real Estate investment group of the Helvetia Investment Foundation qualified for the second-best 4-star rating with 89 points.

    All three investment vehicles were also once again awarded a Green Star at this year’s GRESB, Helvetia explains. “The outstanding GRESB 2025 results of the three real estate investment vehicles are confirmation of our sustainable investment strategy, in which real estate plays a central role,” André Keller, Group Chief Investment Officer at Helvetia, is quoted as saying in the press release. “Responsible investment in sustainable and value-orientated capital investments is a major strategic concern for us.”

    The Group has set itself the goal of achieving net-zero emissions in its investment portfolios by 2050. A total of CHF 3.4 billion is invested in the three property investment vehicles recognised by the GRESB.

  • New momentum for real estate funds

    New momentum for real estate funds

    For real estate funds, the reform seems unspectacular at first glance. Their properties are rented out, the rental income generated from them is still taxable and imputed rental value has never played a role here. Institutional investors therefore continue to pay tax on real income and not on fictitious income.

    The situation is completely different for owners of owner-occupied residential property. They benefit directly, provided their mortgage burden is low. This shift increases the attractiveness of home ownership and could further fuel demand for owner-occupied apartments and single-family homes.

    Price increases in a weak yield environment
    The move away from the imputed rental value comes at a time when yields on real estate investments have already fallen back to a low level. Rising demand for owner-occupied residential property is likely to push up prices. A scenario that puts additional pressure on project developers. Their calculations are becoming tighter, while investors and funds are simultaneously confronted with stagnating rental yields.

    An increase in prices also has an impact on the valuation of real estate portfolios. Funds with high market values could see lower initial yields as a result. This is a development that institutional investors will be watching closely.

    Tax policy countermeasures conceivable
    According to estimates, the abolition of the imputed rental value will lead to annual tax losses of around CHF 1.8 billion. One third of this will affect the federal government and two thirds the cantons. Experts such as Emanuel von Graffenried from BN Conseils warn that the cantons could partially compensate for this loss with new taxes.

    In particular, the introduction of a cantonal property tax is being discussed. Should such a tax become a reality, not only private owners would be affected, but also institutional investors and real estate funds. The reform would therefore indirectly impose an additional burden on the professional real estate sector, albeit with a time lag.

    Long-term market consequences for funds
    Even if the abolition of the imputed rental value is not a direct tax issue for funds, it will affect the environment in which they operate. Rising residential property prices, higher land values and a tightening rental market are changing the valuation basis for real estate investments.

    Experts expect that residential real estate funds in particular will have to make adjustments to their portfolio structure in the medium term. At the same time, tax policy steps by the cantons will change the attractiveness of individual locations. This is an aspect that is also likely to be important for the investment decisions of institutional investors in the future.

  • Planned stock market listing to strengthen market presence

    Planned stock market listing to strengthen market presence

    The fund management company of Swiss Prime Site Solutions AG(SSPS), an asset manager for real estate solutions based in Zug, is considering listing the SPSS Investment Fund Commercial(SPSS IFC) on the SIX Swiss Exchange, according to a press release. According to the company, the SPSS IFC invests with a focus on commercial real estate in economically established locations throughout Switzerland. The company plans to list by the end of 2025, thereby strengthening its market presence, opening up access to new investors and promoting the fund’s liquidity in the long term. The listing will be accompanied by Zürcher Kantonalbank as sole lead manager.

    According to the press release, the listing is subject to market conditions, approval of the amendments to the fund contract by the Swiss Financial Market Supervisory Authority(FINMA) and approval of the listing application by the SIX Swiss Exchange. The SPSS IFC will be open to all investors once the amendments to the fund contract have been approved as a public fund. Until then, it will only be accessible to qualified investors. On the SIX Swiss Exchange, the fund is to be included in the SXI Real Estate Broad and SXI Real Estate Funds Broad indices in future.

    In the run-up to the planned listing, the company has already been able to expand its portfolio and thus prepare for the further development of the fund. “With the funds from the last capital increase, we have optimally expanded the portfolio with two attractive light industrial properties, sustainably strengthened the equity base and consistently aligned the product with the requirements of a stock exchange listing,” says Maximilian Hoffmann, CIO Funds at SPSS.

  • Capital increase planned for three property funds

    Capital increase planned for three property funds

    Procimmo SA is planning to increase the capital of its Real Estate SICAV. Specifically, three sub-funds of the investment company with variable capital are to be increased by a total of CHF 170 million. All three capital increases are to take place after the publication of Procimmo’s annual results on 30 September.

    The fund management of the Industrial sub-fund has planned a capital increase of around 100 million francs, Procimmo announced in a press release. The Procimmo Real Estate SICAV – Industrial fund focuses on industrial, commercial and logistics properties. It currently holds gross assets of CHF 2 billion.

    According to a separate press release, the fund management of the Residential sub-fund is planning to increase its assets by 30 million francs. The Procimmo Real Estate SICAV – Residential fund currently holds gross assets of around CHF 505 million, three quarters of which are invested in properties in Lausanne and Geneva.

    For the Residential PK sub-fund, the fund management company is planning a capital increase of CHF 40 million, Procimmo announced in a third press release. The Procimmo Real Estate SICAV – Residential PK fund currently has around CHF 520 million invested mainly in residential property in French-speaking Switzerland.

    Founded in 2007, Procimmo SA operates as a real estate asset manager at its headquarters in Renens as well as in Zurich and Geneva. The company has been part of Procimmo Group AG since 2017. The Zug-based group of companies, which is listed on the BX Swiss, offers investment and services in the property sector.

  • New findings from 45,000 building permits

    New findings from 45,000 building permits

    The white paper “Retrofitting the Future, The Costs, Timelines, and Strategies Shaping Swiss Real Estate”, which was produced in collaboration with E4S, combines comprehensive data analyses with practical recommendations for action. The aim is to paint a realistic picture of renovation activity in Switzerland. The researchers have systematically investigated the dynamics of renovations, both in terms of speed and costs as well as the type of projects.

    Findings from 45,000 building permits
    By analyzing more than 45,000 building permits issued, the report provides a detailed overview of the actual pace of renovation in Switzerland for the first time. The results show that positive trends are definitely emerging. At the same time, however, it is clear that only a small proportion of renovations are directly aimed at improving energy efficiency. This means that the transition to more climate-friendly buildings has so far remained incomplete.

    Strategic importance of real estate funds
    A central aspect of the report is the role of real estate investment vehicles (REIVs) in achieving the climate targets by 2050. In order to achieve these targets, REIVs must mobilize an average of 13 percent of their net assets, or CHF 28.3 billion, for energy improvements. However, the study points to major differences between the individual market players when it comes to implementing these investments. Some will have to go far beyond the average requirement.

    New tools for well-founded decisions
    The white paper is part of a series of CRML initiatives designed to provide decision-makers with a solid data basis.

    PRESS Scoresa comprehensive ESG rating system for over 126 Swiss real estate funds that takes environmental and social criteria into account.

    PRESS Index: The first sustainable stock market index based on ESG performance metrics, creating transparency in the real estate sector.

    ES Score Whitepaper: An in-depth analysis of 20,000 buildings managed by REIVs to identify regional differences and prioritize investments.

    These tools have a common goal, they make change in the real estate sector measurable and highlight areas for action that often remain hidden. This creates a basis on which decision-makers can not only react, but also proactively steer.

    Focus on future-oriented strategies
    “By combining current data and project typologies, we can move from a theoretical and retrospective view to a concrete and prospective reading of ongoing changes,” explains Dr. Nathan Delacrétaz, one of the authors of the report. Together with his colleagues, Professors Eric Jondeau and Fabio Alessandrini, he makes it clear that it is not enough to simply manage the status quo for existing buildings.

    The researchers emphasize that REIVs will have to focus more on three strategic approaches in future: adapting their portfolios through targeted acquisitions and sales, renovating existing buildings and developing new, energy-efficient properties. The targeted upgrading of underperforming properties will also play a key role in improving the sector’s energy balance in the long term.

    Quantitative basis for the real estate turnaround
    The white paper provides a rare insight into the actual dynamics of renovation and construction activities in Switzerland. It makes it clear that building permits are a key indicator of progress towards climate neutrality, but also a warning. Only if these renovations are specifically geared towards energy efficiency and climate neutrality can the targets set be achieved.

  • Loss of rent in Zurich only a temporary burden

    Loss of rent in Zurich only a temporary burden

    The Swiss Life REF (CH) ESG Swiss Properties real estate fund generated net income of CHF 30.3 million in the first half of the 2024/25 financial year, which ended on March 31, 2025, Swiss Life Asset Management Ltd announced in a press release. Net income of CHF 27.4 million was reported. The net asset value per unit fell from CHF 113.73 at the end of the 2023/24 financial year to CHF 112.37.

    In addition to rental income, the sale of five properties with a market value of around 60 million francs also contributed to the solid result. A capital gain of around CHF 2.9 million was realized here. The fund also benefited from a residential portfolio acquired in July 2024, whose net profitability was around 0.4 percentage points higher than the profitability of the existing portfolio.

    However, the loss of a major tenant in Zurich had a negative impact on the result. Specifically, the rent loss rate rose to 3.8% as a result. However, the affected space has already been re-let with effect from October 2025.

    Swiss Life Asset Manager intends to further optimize the current income and expenses of its real estate fund in the second half of the current financial year. The asset manager, which is part of the Swiss Life Group, has no plans for major property sales or a capital increase.

  • Insight into building permits and renovation dynamics

    Insight into building permits and renovation dynamics

    With the white paper “Retrofitting the Future”, the CRML at HEC Lausanne, together with E4S, is presenting a sound basis for assessing progress in the building sector. The analysis of over 45,000 building permits issued in 2024 provides a precise picture of how the Swiss real estate sector is progressing towards climate neutrality and where it is still encountering obstacles.

    Lots of potential, little energy efficiency
    The study shows that significant trends are emerging in the renovation of buildings. However, only a small proportion of renovations are directly aimed at improving energy efficiency. Although the transition to low-emission buildings has begun, it is not yet sufficient to achieve the ambitious climate targets.

    Financial challenge for real estate funds
    The report also highlights the role of real estate investment vehicles (REIVs). In order to achieve the climate targets by 2050, they would have to mobilize an average of 13 percent of their net assets, a total of CHF 28.3 billion, for energy-efficient renovations. Some market players will have to invest far more than this average, as the authors emphasize.

    Data-based perspective for the future
    “By combining current data and detailed project typologies, we create a bridge from theoretical analysis to a concrete basis for action,” explains Dr. Nathan Delacrétaz, co-author of the white paper. Together with Professors Eric Jondeau and Fabio Alessandrini, he is thus providing a decisive impetus for the urgently needed real estate turnaround in Switzerland.

  • BLKB Fund Management AG launches sustainable property fund

    BLKB Fund Management AG launches sustainable property fund

    BLKB Fund Management AG, the Binningen-based subsidiary of Basellandschaftliche Kantonalbank(BLKB), has launched its first sustainable property fund. According to a press release, the BLKB (CH) Sustainable Property Fund will primarily invest in energy-efficient properties in Northwestern Switzerland and the neighbouring regions of Bern, Central Switzerland and Zurich. It is aimed at qualified investors who wish to invest in a high-quality property portfolio with a predominantly residential focus.

    The initial issue has a volume of up to CHF 160 million. BLKB also intends to invest in the fund. The proceeds of this issue are to be used to acquire a property portfolio with a market value of CHF 177 million. The portfolio, for which BLKB has already acquired seven of the eight properties in the past two years, consists of energy-efficient properties in good locations. It is characterised by a high proportion of residential properties with a low vacancy rate. Currently, 80 per cent of the property assets in the BLKB (CH) Sustainable Property Fund are located in Northwestern Switzerland.

    “The launch of the sustainable property fund with a focus on Northwestern Switzerland is an important milestone. The property sector offers attractive yield opportunities for investors and at the same time has a major impact on energy efficiency, which is particularly relevant for climate neutrality,” Michel Molinari, CEO of BLKB Fund Management AG, is quoted as saying in the press release.

    The subscription period is expected to run from 24 June to 23 July 2025 with payment on 30 July 2025.

  • Swiss Life Asset Managers increases dividend for property funds

    Swiss Life Asset Managers increases dividend for property funds

    The Swiss Life REF (CH) ESG Swiss Properties real estate fund closed the 2023/24 financial year with a profit of CHF 64.2 million, Swiss Life Asset Managers announced in a press release. The asset manager, which is part of the Swiss Life Group, intends to distribute CHF 58.3 million of this to investors. To this end, the dividend will be increased from CHF 2.60 for the previous financial year to CHF 2.70 per share.

    In the year under review, Swiss Life Asset Manager integrated 47 newly acquired properties into the fund. At the same time, the sale of seven properties generated a net capital gain of CHF 7.2 million for the fund. The value of the properties held over the entire reporting period increased by 0.4 per cent net year-on-year. Rental income was 4.5 per cent higher than in the previous year. The vacancy rate rose from 1.5 per cent to 1.6 per cent.

    At the end of the financial year on 30 September 2024, the fund comprised 201 portfolio properties with a total market value of CHF 3.21 billion. The net asset value per unit before distribution remained unchanged year-on-year at CHF 113.73.

  • Peter Baumgartner new Chairman of the Board of Directors of Admicasa

    Peter Baumgartner new Chairman of the Board of Directors of Admicasa

    Admicasa Fondsleitung AG announced the appointment of Peter Baumgartner as the new Chairman of the Board of Directors on 17 October 2024. Baumgartner brings many years of experience in international business and has an extensive network in various industries. He was previously CEO of Etihad Airways, where he led key strategic initiatives. Baumgartner’s appointment succeeds Beat Langenbach, who previously held the position.

    Experience and vision for the future
    Peter Baumgartner can look back on an impressive career in aviation, including senior positions at Swissair, Swiss and Etihad Airways. After returning to Switzerland, he founded the management consultancy Bluearbre Ltd. through which he continues to be actively involved in the consulting and investment scene. His international mandates in various sectors, including the property industry, make him the ideal choice for Admicasa Fondsleitung AG.

    Admicasa on course for growth
    Admicasa Fondsleitung AG, founded in autumn 2023, has already successfully launched its first real estate fund, the Admicasa Real Estate Fund. The fund focuses on investments in prime locations in the agglomeration and aims to utilise appreciation potential and generate attractive returns. With Baumgartner as the new Chairman of the Board of Directors, Admicasa Fund Management plans to further expand its innovative strength and implement new strategies to create value in the property sector.

    A visionary management style
    Peter Baumgartner emphasised in his first statement that he was looking forward to working with Admicasa’s experienced Board of Directors. “The Admicasa Group’s innovative approach fits in with my conviction of sustainable economic value creation. I am convinced that together we will open up new perspectives for fund management and ensure long-term success,” said Baumgartner.

  • Sustainability standard introduced for Swiss real estate funds

    Sustainability standard introduced for Swiss real estate funds

    The Swiss real estate sector is responsible for around a quarter of all CO2 emissions. In order to make the situation and market behavior clearer, the Swiss Sustainable Finance Association has now developed a standard questionnaire on the sustainability of real estate funds. This is intended to make real estate trading more transparent and lead to reliable decisions with regard to sustainability, according to a press release. Investors can answer questions on sustainability in a standardized way and thus increase the comparability of offers. The resulting transparency is of interest to banks and asset managers as well as potential investors. The questionnaire also provides information on compliance with ESG criteria (environmental, social and governance) in the real estate sector.

    “A standard questionnaire increases comparabilityand reduces the workload for everyone involved,” Sabine Döbeli, CEO of Swiss Sustainable Finance, is quoted as saying in the press release. “At the same time, regular further development involving all players in the real estate investment value chain can ensure that the questionnaire is adapted to current developments and always contains the most relevant information.” (more…)

  • Procimmo expands real estate fund

    Procimmo expands real estate fund

    Procimmo is planning to acquire several properties for its Residential Lemanic Fund. The Renens-based company, which specializes in the development and management of real estate investment products, therefore intends to carry out a capital increase of between CHF 30 million and CHF 40 million at the end of September. The exact amount and the subscription period will be communicated at a later date, Procimmo announced in a press release.

    The Procimmo Residential Lemanic Fund currently has gross assets of around 510 million francs. Three quarters of the capital is invested in real estate in Lausanne and Geneva. Procimmo aims to grow the fund “while preserving its intrinsic qualities”, the company writes.

    Founded in 2007, Procimmo SA operates as a real estate asset manager at its headquarters in Renens as well as in Zurich and Geneva. The company has been part of Procimmo Group AG since 2017. The Zug-based group of companies, which is listed on the BX Swiss, offers investment and services in the real estate sector.

  • New charging stations for property funds

    New charging stations for property funds

    The Akara Swiss Diversity Property PK(ADPK) property fund managed by Swiss Prime Site Solutions from Zug invests in existing properties and development and construction projects throughout Switzerland. According to a press release, the fund’s apartment buildings are to be equipped with a new charging concept for electromobility. AEW Energie AG, based in Aarau, has assumed responsibility for the planning and operation of the new charging infrastructure under the contracting model. The on-site installations will be carried out by regional specialist partners, according to the press release. The charging stations will be customised to the various properties and local requirements. The first projects have already been launched.

    “We are proud to have a strong partner at our side in the ADPK fund management, which, like us, recognises and promotes the importance of sustainable mobility solutions,” said Arian Rohs, Head of Mobility Solutions at AEW Energie AG, in the press release. “This cooperation enables us to further expand our commitment to electromobility and make an important contribution to reducing CO2 emissions.”

  • Helvetia places property fund on the stock exchange

    Helvetia places property fund on the stock exchange

    The Helvetia (CH) Swiss Property Fund was listed on the SIX Swiss Exchange on 25 June as planned, Helvetia Asset Management AG announced in a press release. The fund was included in the SXI Real Estate Broad and SXI Real Estate Funds Broad indices on the stock exchange. The successful placement brought the fund a total capitalisation of around CHF 890 million.

    The investment manager, which is part of the Helvetia Group, launched the fund, which focuses on high-quality residential property, in 2020. It currently has 46 properties in various locations, diversified in terms of age and tenant structure. Their market value totalled CHF 1.072 billion as at the end of March.

  • A new force in the Swiss property fund market

    A new force in the Swiss property fund market

    The Admicasa Real Estate Fund, which specialises in high-quality properties in prime locations, aims to achieve attractive entry prices, appreciation potential and high cash flow yields. In the current market environment, the fund is thus positioning itself as a promising investment opportunity.

    First successful acquisitions
    Just one day after its launch, the fund management company, which is supervised by FINMA, succeeded in acquiring three properties in the centre of Yverdon VD for around CHF 25 million. These properties, located directly at Yverdon railway station, comprise almost 3,000 square metres of usable space, ten flats and commercial space with first-class tenants and generate rental income of almost CHF 1.1 million.

    Significance of the transaction and future plans
    This transaction, which generates a gross yield of 4.3 per cent, underlines the strategic expertise of Admicasa Fund Management. CEO Peter Csoport emphasises the success in difficult market conditions and points to further attractive real estate properties already in the acquisition pipeline.

    Network and network effect
    Serge Aerne, Chairman of the Board of Directors of the Admicasa Group, emphasises the importance of the comprehensive network. This enables the fund to draw on the Admicasa Group’s interdisciplinary expertise and relationships in the areas of construction, capital and pensions, which benefits investors.

  • Admicasa establishes fund management company and launches its own real estate fund

    Admicasa establishes fund management company and launches its own real estate fund

    The management plans to launch another real estate fund by the beginning of 2024. This is aimed at municipalities that are involved in the construction of public facilities such as schools, hospitals and homes and aim to build affordable housing.

    With this step, the Admicasa Group is broadening its horizons: Admicasa develops, realises and manages real estate, with the management segment targeting institutional investors in particular. With the fund management segment, Admicasa is now also targeting a wider circle of investors.

    Beat Langenbach will take over as Chairman of the Board of Directors of Admicasa Fondsleitung AG. The accomplished entrepreneur is the founder of a successful brokerage company and former Chairman of the Admicasa Group.

    Beat Langenbach will be assisted by three high-calibre members of the Board of Directors: Professor Michael Trübestein is head of the Real Estate Management course at the University of Lucerne and holds various directorships in the real estate industry. Thomas Bergmann has many years of experience as an entrepreneur in the real estate industry

    In the real estate industry. And Walter Keller brings two decades of experience in the fund industry, including as Head of Custodian Bank at BNP Paribas.

    With Peter Csoport, Admicasa was able to gain a proven investment and real estate specialist who will lead the operational business of the fund management as CEO.

    The Swiss financial centre now has 53 licensed fund management companies. A majority of these are large banks and insurance companies. The new Admicasa Fondsleitung AG belongs to the exclusive group of medium-sized and independent fund management companies. “Now a broad range of investors can participate in the added value we create in the real estate industry with creative solutions,” says Serge Aerne, Chairman of the Board of Directors of the Admicasa Group. “We want to shake up the market.”

  • Credit Suisse lowers distribution for real estate funds

    Credit Suisse lowers distribution for real estate funds

    Credit Suisse Funds AG expects a reduction in the net asset value of its Credit Suisse Real Estate Fund International (CS REF International). The background to this is developments in the global target markets on which the real estate fund is based, Credit Suisse informs in a statement. Here, rising interest rates in the key markets of the US, UK and Germany have impacted valuations.

    In concrete terms, the fund’s net asset value will fall to between CHF 960 and CHF 970 as of the reporting date at the end of 2022. As at year-end 2021, a net asset value of 1070.72 was recorded. By year-end 2022, Credit Suisse Funds AG has accepted redemption requests amounting to 13.3 percent of the units issued.

    As a result of the expected reduction in the net asset value of 9.5 to 10.5 percent, the major Zurich bank is adjusting the distribution on CS REF International. For 2022, the distribution is to be 35 to 38 francs per unit. In the previous year, 40 francs per unit were distributed.

  • Loanboox now enables real estate financing

    Loanboox now enables real estate financing

    The Zurich start -up Loanboox enters the brokerage of loans for housing cooperatives, real estate funds and companies. The financing expert Patrick Zurfluh is joining the company as Head of Real Estate Financing, according to a press release .

    The first pilot transactions have already been completed, including a housing cooperative from the canton of Zurich. By processing via Loanboox, the borrower was able to save 20 percent of the financing costs and more than halved her expenses.

    As Head of Real Estate Financing, Patrick Zurfluh wants to advise and support real estate companies in the future. Before that, he worked for the Raiffeisen and Credit Suisse banks as a real estate financing specialist. “It struck me that real estate financing should be made simpler and more cost-efficient. That’s why I’m with Loanboox now,” he is quoted as saying in the media release.

    Loanboox has been brokering loans from investors to public sector borrowers for five years. All parties can view and organize their documents and communications as well as deadlines via the Loanboox digital money and capital market platform. Municipalities, cities and large companies have received 2,500 loans through Loanboox to date. The company is also open to partnerships with associations and organizations.

  • Swiss Life Asset Managers expands real estate funds

    Swiss Life Asset Managers expands real estate funds

    Swiss Life Asset Managers has acquired two office properties in Berlin and Antwerp, an industrial property in the Stuttgart area and a residential property in Oldenburg for the real estate fund Swiss Life REF (CH) European Properties . At the same time, an office property in Oxford was sold at a profit.

    The assets held in the fund have thus currently reached a level of almost EUR 715 million. In the persistently low interest rate environment, attractive returns can still be achieved with investments in European real estate, writes Swiss Life Asset Managers. The asset manager plans to carry out another capital increase for the fund in autumn of this year.

    In the communication, Swiss Life Asset Managers also communicates its own commitment to sustainability. “Environmental, social and governance factors (ESG) are systematically included in the investment and risk management processes at Swiss Life Asset Managers,” writes the company. Last year, the Swiss Life REF (CH) European Properties achieved 72 percent in the Global Real Estate Sustainability Benchmark and thus received three stars and Green Status, Swiss Life Asset Managers informs. The company signed the United Nations Principles for Sustainable Investment back in 2018.

  • AFIAA Anlagestiftung erwirbt Büro- und Geschäftshaus in Lissabon

    AFIAA Anlagestiftung erwirbt Büro- und Geschäftshaus in Lissabon

    Das zwölfgeschossige Gebäude mit rund 9600 Quadratmetern Gesamtmietfläche wurde im Jahr 1969 erbaut und 2018/2019 umfassend modernisiert. Es hat ein «Energy Performance Certificate» der Stufe A, was der zweitbesten Klassifizierung entspricht. Der Standort zeichnet sich durch seine repräsentative Lage im Prime-CBD von Lissabon sowie durch eine hervorragende Verkehrsanbindung aus. Die Flächen sind derzeit zu 98 Prozent vermietet, überwiegend an das Versicherungsunternehmen Generali Seguros Portugal. Die Immobilie ist für das Portfolio AFIAA Global bestimmt. Es handelt sich um das zweite Investment von AFIAA in der portugiesischen Hauptstadt.


    «Wir haben uns aufgrund des langfristigen Mietvertrages mit einem bonitätsstarken Hauptmieter und der hohen Bauqualität für den Ankauf entschieden. Die im betreffenden Teilmarkt herrschende Flächenknappheit lässt zudem eine hohe Wertstabilität und mittel- bis langfristiges Wertsteigerungspotenzial erwarten. Für Lissabon sprechen das im Vergleich mit anderen europäischen Core-Märkten attraktive Rendite-Risiko-Verhältnis, positive wirtschaftliche Aussichten und eine bemerkenswerte Resilienz. Selbst während der Corona-Pandemie gab es hier eine stabile Nachfrage nach Büroflächen», sagt Sebastian Feix, Head of Transactions von AFIAA.


    AFIAA wurde bei der Transaktion von Cushman & Wakefield sowie rechtlich von Morais Leitão beraten.

  • Swiss Prime Site Solutions initiates second issue for funds

    Swiss Prime Site Solutions initiates second issue for funds

    Just under two weeks ago, Swiss Prime Site Solutions announced the successful completion of the first issue for its real estate fund. The Swiss Prime Site group company is now preparing the second issue for the Swiss Prime Site Solutions Investment Fund Commercial. It is planned for March 2022 and should bring in around 145 million francs for the fund, the real estate company informed in a corresponding message .

    The capital increase will be carried out “while preserving the subscription rights of the existing shareholders”, is further explained in the announcement. The subscription ratio is set at 1:1. Investors who commit to participating before the start of the subscription period or invest a large sum benefit from a discount on the issuing commission. Swiss Prime Site Solutions intends to communicate further details shortly before the capital increase.

    The capital generated during the issue is to be used for the further expansion of the real estate fund. After the completion of the first issue, the portfolio of the Swiss Prime Site Solutions Investment Fund Commercial consisted of 13 properties. The focus of the fund is on "commercial real estate in economically good and established locations", explains Swiss Prime Site Solutions.

  • Swiss Prime Site Solutions completes initial fund offering

    Swiss Prime Site Solutions completes initial fund offering

    The subscription period for the Swiss Prime Site Solutions Investment Fund Commercial began on November 1, 2021. By the deadline of December 10, 2021, the real estate fund had brought in a total of CHF 144.2 million, Swiss Prime Site Solutions announced in a statement . They are spread over a total of 1,441,705 fund shares.

    The Swiss Prime Site group company uses the new equity to build up a real estate portfolio. The proceeds from the issue have already flowed completely into the purchase of real estate with a total value of 220 million, according to the statement. The first real estate fund from Swiss Prime Site Solutions has 13 properties to start with. The focus of the fund is on "commercial real estate in economically good and established locations", explains Swiss Prime Site Solutions.

  • Nova Property purchases for real estate funds

    Nova Property purchases for real estate funds

    Nova Property Fund Management AG is expanding its Swiss Central City Real Estate Fund. The fund will be expanded by two residential properties and two residential and commercial properties in attractive locations in Zurich, Basel and St.Gallen, the company, which operates as fund management company, informed in a press release . The investment amount mentioned is 43 million francs. The transfer of ownership of the two properties in Zurich took place in mid-December of last year, that of the properties in Basel and St.Gallen on January 3 of this year.

    All four properties together had a usable area of 2,400 square meters of living space and 660 square meters of commercial space, explains Nova Property. All properties are fully let and generate target rental income of 1.4 million francs per year. The Swiss Central City Real Estate Fund holds properties in central locations throughout Switzerland.

  • Swiss Prime Site buys Akara Group

    Swiss Prime Site buys Akara Group

    Swiss Prime Site buys the Zug-based Akara Group . The transaction is to be completed in mid-January retrospectively to the beginning of the year, the Solothurn real estate company informs in a message .

    The takeover is intended to strengthen the real estate fund division (Swiss Prime Site Solutions) at Swiss Prime Site. According to the announcement, Akara manages real estate investments totaling around CHF 2.3 billion. The partner companies have agreed not to disclose the purchase price.

    "We are very pleased to be able to acquire an innovative, dynamic and at the same time established company with the Akara Group", René Zahnd, CEO of Swiss Prime Site, is quoted in the press release. "The fund provider's business model and corporate culture are a perfect match for Swiss Prime Site Solutions."

    The Akara Group consists of Akara Funds AG, Akara Real Estate Management AG and Akara Property Development AG. They are to be integrated into Swiss Prime Site Solutions in the course of next year. The portfolio of real estate assets under management, including the projects under development, will thus reach a volume of over CHF 6.5 billion, writes Swiss Prime Site. The real estate company expects to post a contribution to the operating result at EBIT level of CHF 27 to 28 million in the real estate funds division in 2022.

  • Baloise increases capital for real estate funds

    Baloise increases capital for real estate funds

    Baloise Asset Management AG will carry out a capital increase for its Baloise Swiss Property Fund from August 10th to 19th, announced the asset management company of the Baloise Group in a message . A maximum of 1.24 million new shares with a total value of around 135 million are to be issued on a commission basis.

    The issue price including issuing commission is stated in the notification at 110.70 francs per unit. According to her, every 19 subscription rights entitle the holder to purchase five new shares. Any shares that have not been subscribed will not be issued, Baloise informs.

    The funds raised are to be used for the acquisition of a real estate portfolio consisting of 15 residential properties, one commercial property and one mixed-use property. Baloise announced the planned purchase of this property, which is spread across ten cantons, last month.

    The property portfolio with a market value of around 185.2 million francs is currently held by Basler Versicherung AG and Basler Leben AG, which are part of the Baloise Group. The Swiss financial supervisory authority has already granted the fund management company the necessary exemption from the ban on takeovers by related parties, explains Baloise. To finance the purchase, Baloise intends to raise around 50 million francs in outside capital in addition to the capital increase.

  • Swiss Life Asset Managers real estate fund increases capital

    Swiss Life Asset Managers real estate fund increases capital

    Swiss Life Asset Managers has successfully completed a capital increase for the real estate fund Swiss Life REF (LUX) German Core Real Estate SCS, SICAV-SIF, informs the asset manager belonging to the Swiss Life Group in a message . A total of 108.7 million euros were raised, it continues. The funds are to be used to acquire sustainability-oriented properties in Germany.

    Among other things, Swiss Life Asset Managers will acquire contractually secured residential properties that are characterized by energy efficiency and earnings potential, the company explains in the press release. In general, at least 50 percent of residential real estate should continue to be held in the fund. However, part of the newly brought in funds will be used to acquire commercially used properties in good to very good locations in German cities.

    Swiss Life Asset Managers signed the UN Principles for Responsible Investment as early as 2018, the announcement further explains. According to her, the company applies appropriate environmental, social and corporate management criteria to both the purchase and management of real estate.

  • Nova Property increases capital for real estate funds

    Nova Property increases capital for real estate funds

    Nova Property has successfully completed a capital increase for its Swiss Central City Real Estate Fund, the company acting as fund management company informs in a release . During the capital increase carried out from May 25 to June 4, a total of 760,414 new shares were issued to existing shareholders and new investors at a subscription price of 108.80 francs each. A new share could be acquired for every three subscription rights.

    The capital increase was "significantly oversubscribed", explains Nova Property in the announcement. In total, it brought in new funds totaling 82.7 million francs for the Swiss Central City Real Estate Fund. Nova Property intends to use the funds to further expand the property portfolio. The fund, which is traded over the counter by Bank J. Safra Sarasin, holds real estate in central locations throughout Switzerland.