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.
Blockchain enables the ownership of virtual property to be determined beyond doubt, as well as allowing ownership rights to be freely traded. The technology eliminates the need for a central ledger. The Center for Innovative Finance (CIF) at the University of Basel is investigating how these technologies are affecting business and society. The research unit is supported by Credit Suisse Asset Management, which has endowed a professorship in Distributed Ledger Technology (Blockchain)/Fintech.
What is commonplace in the automotive industry is also finding its way into the real estate sector. Thanks to Credit Suisse Asset Management Global Real Estate, tenants can use the online office configurator to search for, select, and configure their office space. And all this in real time.
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