Zurich Investment Foundation increases real estate funds
The Zurich Investment Foundation has raised CHF 250 million for its Real Estate Switzerland investment group. The new capital will be used to purchase a construction project in Zurich and six residential buildings in the canton of Lucerne. The value of the investment group is almost 3 billion Swiss francs.
Zurich Investment Foundation has completed a capital increase for its Immobilien Wohnen Schweiz investment group with new capital of CHF 250 million, which was launched in mid-July, Zurich Invest AG announced in a press release. The subsidiary of the Zurich Insurance Group is responsible for the management of the investment foundation. The new funds are to be used to purchase a property in Zurich where a construction project has already started and six fully rented residential buildings in Lucerne.
In the project in Zurich, three residential buildings with a total of 269 apartments are being built on Austrasse. According to the statement, the buildings should meet the requirements of the gold level of the Swiss Sustainable Building Standard. According to her, the six newly built apartment buildings with a total of 61 apartments in the canton of Lucerne are also sustainable development.
Residential properties throughout Switzerland with a value of almost 3 billion Swiss francs are pooled in the investment group Immobilien Wohnen Schweiz, Zurich Invest explains. The portfolio is "well diversified in terms of size, age structure and geographic distribution".