PSP Swiss Property buys prime property in CBD Geneva

Property News

April 1st, 2022

In order to further optimise its real estate portfolio, PSP Swiss Property has purchased a prime property and has sold a development project in Geneva.

Retroactively as per January 1st 2022, PSP Swiss Property has acquired the prime commercial property located at Place de la Synagogue 3-5 & Rue Jean-Petitot 4-6 in Geneva for CHF 64 million. This prestigious property has around 2'700 m2 of usable space, 75% of which is mainly used for offices (the remaining space is used for retail, gastronomy, a gym and storage). The property is fully let in the medium to long term, with the main tenant being the IWG-brand «Signature», a coworking operator.

In addition, the slightly peripheral development project at 54-58 Rue du Grand-Pré was sold for CHF 60.5 million as of 30 March 2022.

The two transactions have no immediate impact on the Ebitda and vacancy forecast published in the FY21 release on February 22nd 2022. On May 3rd 2022, the Q1-2022 results will be published with the usual financial information.

Further information
Sam Schwarz, Transactions & Portfolio Steering · Phone +41 (0)44 625 55 77 · Mobile +41 (0)79 137 93 49
Vasco Cecchini, CCO & Head IR · Phone +41 (0)44 625 57 23 · Mobile +41 (0)79 650 84 32

PSP Swiss Property - leading Swiss real estate company
PSP Swiss Property owns a real estate portfolio of CHF 9.1 billion in Switzerland's main economic areas; its market capitalisation amounts to CHF 5.6 billion. The 98 employees are based in Basel, Geneva, Zug and Zurich.

PSP Swiss Property has been listed on the SIX Swiss Exchange since March 2020 (symbol: PSPN, security number: 1829415, ISIN CH0018294154).

 

None of the information in this press release constitutes an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. None of the securities of the Company referred to in this press release have been or will be registered under the United States Securities Act of 1933, as amended (the 'Securities Act'), or under the applicable securities laws of any state or other jurisdiction of the United States.