International wealth management firm boosts real estate portfolio with a major acquisition of commercial property
GENEVA, Nov. 21, 2019 /PRNewswire/ -- Spearvest, the international wealth manager for ultra-high net worth individuals, today announces a CHF 36 million property acquisition in Lausanne region, Switzerland.
The deal, organized as part of the company's co-investment programme, sees Spearvest gain a major real estate asset. This recently developed property is 100% let to high quality tenants on long-term leases.
Located in one of the city's fastest growing business locations, the mixed-use property sits in a strategic transportation hub connecting Lausanne, Geneva and Bern, an area that also hosts other blue chip occupiers. The immediate vicinity is undergoing a strong regeneration with more than 500 new residential units, senior housing and office premises delivered by the end of 2020.
Benoit Pallard, partner and head of real estate at Spearvest comments:
"This investment represents Spearvest's first acquisition in Switzerland, providing investors with access to a stable economy and exposure to a safe haven currency.
"We were drawn to Lausanne region having identified the highly attractive investment fundamentals on offer there, including a strengthening occupational market, high levels of demand for quality office space, coupled with diminishing vacancy rates.
"As we enter into such a fast-developing location, we are confident that this co-investment will deliver significant value to our clients investing alongside us, given the solid asset management strategy in place."
