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.
About the properties
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.