German closed-end fund manager Acron AG has acquired a retail centre in Näfels/Glarus, south of Zurich from Austrian developer Zima for CHF 34 mln (EUR 24 mln). The property, which was completed in March 2010, has been transferred to the Acron Helvetia IX Immobilien vehicle which is planned to open up its capital to qualified investors in the second half of the year. The transaction price is in line with the appraised value of the asset, Acron said.

German closed-end fund manager Acron AG has acquired a retail centre in Näfels/Glarus, south of Zurich from Austrian developer Zima for CHF 34 mln (EUR 24 mln). The property, which was completed in March 2010, has been transferred to the Acron Helvetia IX Immobilien vehicle which is planned to open up its capital to qualified investors in the second half of the year. The transaction price is in line with the appraised value of the asset, Acron said.

The asset is fully leased with a long term lease to six retail companies and generates a yield of 6.50%, rising to 6.75% from 2015 onwards. The centre offers around 8,300 m2 of net leasable space occupied by Migros, Aldi, C&A, Müller, Dosenbach, and Jacques Gabriel as well as 200 parking spaces.

'This investment will produce a secure and sustainable flow of income thanks to long-term leases signed with tenants with good credit ratings', the company said in a statement.

On completion of the transaction, Acron's portfolio will include eight commercial, hotel and office properties with a total value of around CHF 470 mln. Acron is active in the German, Swiss and American property markets.