Property investment company Acron has launched a new Swiss commercial real estate fund and announced the acquisition of the Rossfeld shopping centre in Sierre, Switzerland.

Property investment company Acron has launched a new Swiss commercial real estate fund and announced the acquisition of the Rossfeld shopping centre in Sierre, Switzerland.

The fund - Acron Real Estate Portfolio (SICAV-FIS) - is the first regionally focused investment vehicle launched by Acron and will act as an umbrella fund with Acron Swiss Properties Fund as its sub-fund.

It is targeting equity of €82 mln through a private placement with institutional investors in Switzerland and Germany. The fund, which aims to reach a size of €205 mln, will focus on offices, hotels, logistics and retail properties in Switzerland and will have a core to core-plus investment spectrum. It will target an Internal Rate of Return of 6% per year.

The vehicle has made its first acquisition with the purchase of the Rossfeld Centre development project from HRS Real Estate for €21 mln. The scheme offers a total area of 5,269 m2 and 166 parking spots and is fully leased to third-party renters and to the seller, which is responsible for leasing.

Construction is due to be completed in February 2014.