Swisscanto (CH) Real Estate Fund IFCA optimises its portfolio

Swisscanto (CH) Real Estate Fund IFCA is optimising its portfolio with two properties in Zurich and Lucerne.

Swisscanto (CH) Real Estate Fund IFCA (ISIN: CH0037430946) has acquired two properties in the centre of Lucerne and in Zurich-Schlieren. Both properties are characterised by excellent macro and micro locations. The market value of both properties amounts to around CHF 54 million. The vacancy rate is approximately 0.4%. The acquisition takes effect retroactively as of 1 March 2019 for the property in Zurich-Schlieren and as of 1 April 2019 for the property in Lucerne.

The property in Lucerne is situated in a central location in the heart of the city. In addition to commercial uses in the lower floors, seven storeys accommodate modern 2.5 to 3.5-room apartments with a high-quality fit-out. A major distributor is located in the ground floor with a long-term tenancy agreement. The property was extensively renovated in 2005 and is almost fully leased.

The property in Zurich-Schlieren concerns two apartment buildings with 27 residential units with attractive floor plans. The 3.5 to 4.5-room apartments are positioned in the medium price segment. The property was built in 1982 and was partially renovated in 1996. Besides the existing public transport connections, a Limmattalbahn station is being developed just a short walk from the property, which will further enhance the attractiveness of the proper-ty's location.

Fund manager Patrick Schmid comments: "By acquiring the two properties in central locations, the fund has been able to expand its portfolio in its focus regions and further optimise the quality of the portfolio."

Swisscanto (CH) Real Estate Fund IFCA invests in residential real estate (assets) in all market regions in Switzerland and pursues a core investment style with a long-term, low-risk investment horizon. The objective of the fund is to achieve a stable regular income with long-term capital preservation.