The oldest real estate fund in Switzerland is turning 80.
1938 – The Série Immobilier D fund purchases its first properties, including five buildings at top-quality locations in Zurich.
What does this have to do with the CS REF Siat and Global Real Estate? The Série Immobilier D fund was the predecessor of today's CS REF Siat. This fund is still managed by Global Real Estate and the five buildings are still in the portfolio of the fund, which has celebrated its 80th anniversary in 2018.
It is the oldest real estate fund in Switzerland, and a real success story. Around 165 other properties have since been added to the first buildings.
The fund is listed on the stock exchange and its market value of CHF 2.83 billion makes it one of the three biggest real estate funds in Switzerland. It represents continuity and the expert selection of properties, with the result that the market value of some of the properties purchased in 1938 has increased sixfold. An impressive track record.
The CS REF Siat focuses on residential real estate, although around 25% of revenue nowadays comes from commercial properties. It is characterized by a high-yield portfolio, consistent and high distributions, a high premium, and low vacancy rates. The properties currently held by the fund are located throughout Switzerland. At present, the fund has four new-build projects and numerous refurbishment projects in its portfolio. The fund continues to focus on complementing its portfolio with attractive existing properties and new-build projects, and on optimizing its portfolio through renovations.
Since October 1, 2018, Gerald Kremer has been responsible for digital transformation in the Global Real Estate division of Credit Suisse Asset Management as Chief Digital Officer. In an interview with Christoph Schumacher, Head of Credit Suisse Global Real Estate, he discusses the exciting opportunities being created by digitalization in the real estate sector in general and Global Real Estate in particular.
The development of the former Elektrolux site in Aarau, is a prime example of the successful transformation of an industrial district into a modern workplace with a high quality of life. One building in particular offers an impressive demonstration of this: the new headquarters of the national electric grid company Swissgrid.
Gerald Kremer, Chief Digital Officer, has been responsible for digital transformation in the Global Real Estate unit at Credit Suisse Asset Management since October 2018. In this interview, he talks about the promising opportunities that digitalization is bringing for the real estate sector in general as well as for Global Real Estate in particular.