Swiss Prime Site takes over Fundamenta’s property division
Swiss Prime Site is acquiring Fundamenta Group (Schweiz) AG and Fundamenta Group Deutschland AG. This increases the property assets managed by the Zug-based real estate company to around CHF 13 billion.
Swiss Prime Site is acquiring the property asset manager Fundamenta Group. Fundamenta Group (Schweiz) AG from Zug and Fundamenta Group Deutschland AG from Munich are to be integrated into the asset management division Swiss Prime Site Solutions, the Zug-based property company announced in a press release. The two companies have agreed not to disclose the purchase price. Asset manager Belvédère Asset Management AG, which also belongs to the Fundamenta Group, will remain unaffected by the takeover.
The takeover will increase Swiss Prime Site’s property assets by CHF 4.2 billion to around CHF 13 billion. This will create “by far the largest independent Swiss property asset manager”, writes Swiss Prime Site. The Zug-based real estate company intends to finance 25 percent of the purchase with shares from authorised capital and 75 percent from freely available funds.
With the acquisition, Swiss Prime Site aims to expand its own investor base, deepen its product offering, particularly in the residential sector, and open up access to the German property market for its Swiss clientele, explains CEO René Zahnd in the press release. “We are thus continuing to pursue our focussed real estate strategy and substantially strengthening the asset management arm of Swiss Prime Site Solutions,” said CEO Swiss Prime Site.