The Empira Group has acquired its first residential development project in Switzerland as part of a plan to build up a dedicated Swiss real estate portfolio.
Empira has invested an unspecified sum to acquire the 31,000sqm site in the Canton of Zug to develop into a residential district comprising around 230 residential units, commercial spaces and a kindergarten.
The Partners Group-owned European and US alternative investment manager said the acquisition was made through a co-investment structure designed for qualified Swiss investors who invest alongside Empira in select residential developments.
Marcus Bartenstein, CEO of Empira Group, said: 鈥淲ith this first acquisition in Switzerland, we are sending a clear signal: we see significant potential in the Swiss residential real estate market and aim to establish ourselves as a long-term and reliable partner for institutional investors.鈥�
Reimer Siegert, head of real estate development Switzerland at Empira, said: 鈥淥ur goal is to build a high-quality, sustainable Swiss portfolio focused on urban, future-oriented residential neighbourhoods in economically strong regions.鈥�
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