Union Investment has sold a logistics property at Industriestrasse 11 in Oftringen, Switzerland to a Swiss property fund managed by UBS Asset Management.
The purchase price is higher than the most recent Expert value, Union Investment said.
The logistics property, which comprises around 31,155 sq m of rental space and was built in 2008, was acquired by Union Investment in 2013 for the portfolio of the institutional mutual fund UniInstitutional European Real Estate and was fully let to the logistics company FIEGE throughout the entire portfolio phase.
“The sale is purely for strategic portfolio reasons. It is definitely not a strategic withdrawal from the Swiss market. On the contrary: we are ready to invest again at the next suitable opportunity,” says Alejandro Obermeyer, Head of Investment Management DACH at Union Investment.
The logistics centre in Oftringen is 60 km west of Zurich and is located directly at one of Switzerland’s most important transport hubs. Its immediate proximity to the A1 and A2 motorway network ensures excellent connections to the north and south as well as to the east and west. The property also has its own railway siding, which enables multimodal logistics at the site.
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