Brussels-based REIT Leasinvest has bought a portfolio of three retail premises in Switzerland for CHF45.6 mln (€38 mln).
Brussels-based REIT Leasinvest has bought a portfolio of three retail premises in Switzerland for CHF45.6 mln (€38 mln).
The properties comprise two retail park units in Etoy and Villeneuve and a shop unit on the main street in Yverdon-les-Bains, by Lake Neuchatel, all in the Canton of Vaud. The portfolio was acquired from European high-street real estate specialist Redevco.
The acquisition represents the first move into the Swiss property market for Leasinvest, whose other assets are in Luxembourg and Belgium.
It also increases the share of retail property in Leasinvest’s portfolio to 46%, with offices (34%) and semi-industrial property (20%) accounting for the rest.
Commenting on the transaction, CEO Jean-Louis Appelmans said: ‘Leasinvest Real Estate thus becomes a unique market player, active in the Grand Duchy of Luxembourg, Belgium and Switzerland.’
Leasinvest’s total portfolio comprises 35 sites with a combined value of €746 mln.