Swiss Prime Site buys Akara Group
Swiss Prime Site takes over the Zug-based Akarka Group. The investment manager, who specializes in real estate, aims to strengthen the real estate fund division of Swiss Prime Site. Akara manages investments in real estate amounting to around CHF 2.3 billion.
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Swiss Prime Site buys the Zug-based Akara Group . The transaction is to be completed in mid-January retrospectively to the beginning of the year, the Solothurn real estate company informs in a message .
The takeover is intended to strengthen the real estate fund division (Swiss Prime Site Solutions) at Swiss Prime Site. According to the announcement, Akara manages real estate investments totaling around CHF 2.3 billion. The partner companies have agreed not to disclose the purchase price.
"We are very pleased to be able to acquire an innovative, dynamic and at the same time established company with the Akara Group", René Zahnd, CEO of Swiss Prime Site, is quoted in the press release. "The fund provider's business model and corporate culture are a perfect match for Swiss Prime Site Solutions."
The Akara Group consists of Akara Funds AG, Akara Real Estate Management AG and Akara Property Development AG. They are to be integrated into Swiss Prime Site Solutions in the course of next year. The portfolio of real estate assets under management, including the projects under development, will thus reach a volume of over CHF 6.5 billion, writes Swiss Prime Site. The real estate company expects to post a contribution to the operating result at EBIT level of CHF 27 to 28 million in the real estate funds division in 2022.
