Swiss closed-end fund manager Acron has announced plans to place its Acron Helvetia VII Immobilien vehicle on the market. The company said it will seek a listing on the Bern Stock Exchange for the fund, which is the owner of the Portikon office building representing an investment of CHF 142 mln (EUR 109 mln).
Swiss closed-end fund manager Acron has announced plans to place its Acron Helvetia VII Immobilien vehicle on the market. The company said it will seek a listing on the Bern Stock Exchange for the fund, which is the owner of the Portikon office building representing an investment of CHF 142 mln (EUR 109 mln).
Acron expects the fund to be traded on the stock exchange from the second half of 2011.
The Portikon asset is located in Glattpark, between the centre of Zurich and the city's airport, and consists of a seven-storey office building including a restaurant and a two-level underground garage. It is fully leased to several tenants including pharmaceutical companies Baxter Healthcare and Nycomed International Management, which have agreed on a lease term running to 2019 with two five-year renewable options. In 2010 the property generated an annual rental income of CHF 7.7 mln.
