PSP Swiss Property buys prime commercial property in CBD Geneva | news
PSP Swiss Property AG / Key word(s): Real Estate
PSP Swiss Property buys prime commercial property in CBD Geneva
real estate news
April 1, 2022
As part of the ongoing portfolio optimization, PSP Swiss Property has bought a top property in Geneva and sold a development project.
Retroactive to January 1, 2022, PSP Swiss Property has acquired the commercial property at Place de la Synagogue 3-5 & Rue Jean-Petitot 4-6 for CHF 64 million in a prime downtown location in Geneva. This representative property has a usable area of around 2,700 m2, and 75% is mainly used for offices (other areas: retail, gastronomy, a gym and storage). The property is fully let for the medium to long term, the main tenant is the IWG brand “Signature”, a coworking operator.
In addition, as of March 30, 2022, the slightly peripheral development project at Rue du Grand-Pré 54-58 was sold for CHF 60.5 million.
The two transactions have no direct impact on the Ebitda and vacancy forecasts published in the FY21 publication on February 22, 2022. On May 3, 2022, the Q1 2022 results will be published with the usual financial information.
Further information
Sam Schwarz, Transactions & Portfolio Management Tel. +41 (0)44 625 55 77 Mobile +41 (0)79 137 93 49
Vasco Cecchini, CCO & Head IR Tel. +41 (0)44 625 57 23 Mobile +41 (0)79 650 84 32
PSP Swiss Property – leading Swiss real estate company
PSP Swiss Property owns a real estate portfolio worth CHF 9.1 billion in the most important Swiss economic centers and has a market value of CHF 5.1 billion. the end. The 98 are spread across the Basel, Geneva, Zug and Zurich locations.
PSP Swiss Property has been listed on the Swiss stock exchange, SIX Swiss Exchange, since March 2000 (symbol: PSPN, Valor: 1829415, ISIN CH0018294154).
None of the information in this press release constitutes an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. None of the Company’s securities referred to in this press release have been or will be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state or other jurisdiction from the United States.