Listed Swiss property firm Zublin Immobilien announced on Tuesday that it has completed the sale of its two investment properties in Wettingen, Switzerland. The combined net proceeds, after taxes and transaction costs, were CHF 33.2 mln (EUR 20.5 mln).
Listed Swiss property firm Zublin Immobilien announced on Tuesday that it has completed the sale of its two investment properties in Wettingen, Switzerland. The combined net proceeds, after taxes and transaction costs, were CHF 33.2 mln (EUR 20.5 mln).
The company sold a 2,290-m2 office property with a vacancy rate of 14.8% and a 11,186-m2 retail asset with a vacancy rate of 13.2%.
Last week Zublin Immobilien concluded the sale of an office building in Switzerland and a retail property in Germany for a total of CHF 56.3 mln (about EUR 37 mln). Zublin said the divestments were part of its revised strategy to concentrate its investment holdings on office properties in a few selected cities in Switzerland, France and Germany.
