The properties are fully occupied, generating over 10 million Swiss francs a year in rent.
Habas HZ Investments Ltd. (TASE: HABS) has bought four properties in Switzerland from the pension fund of a Swiss bank for NIS 610 million (181.5 million Swiss francs). The company bought one office building each in Basel and Dietikon, and two shopping centers, one in Bern and the other in Fribourg.
The properties are fully occupied, generating over 10 million Swiss francs a year in rent.
Habas also signed a contract for building rights to add 8,400 sq.m. of gross space to the Fribourg shopping center. The company believes that the added space, if built, will greatly boost the property’s return on investment. The company is also negotiating to buy two adjacent properties, which will be used as offices and clinics.
Published by Globes [online], Israel business news - www.globes.co.il - on December 31, 2006
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