Swiss pension fund BLPK has sold 23 properties valued at EUR 137 mln to asset manager Avadis. The deal involved BLPK obtaining an interest in Avadis equal to the value of the assets sold. The assets are located in and around the Swiss city of Basel, north-west of the country.
Swiss pension fund BLPK has sold 23 properties valued at EUR 137 mln to asset manager Avadis. The deal involved BLPK obtaining an interest in Avadis equal to the value of the assets sold. The assets are located in and around the Swiss city of Basel, north-west of the country.
'The transaction should enable us to get a better handle on risks as it diversifies our real estate investments in Switzerland's leading economic centres', BLPK said. Avadis has about one-fifth of its EUR 4 bn in assets under management in Switzerland, IPE Real Estate said.
