The AFIAA entered into a partnership with specialist manager Avadis to pool direct real estate investment resources and run CHF4 billion of assets.
The AFIAA s portfolio remained unchanged, with a focus on direct global real estate investments.
About AFIAA AFIAA
is an investment foundation under Swiss law, which invests exclusively in real estate investments abroad.
With the acquisition of the "Arch Square" property, AFIAA continues its growth strategy and realises its strategic objectives to increase the US allocation in its equity portfolio investments.
AFIAA offers tax-exempt Swiss pension funds an attractive and clear investment instrument to specifically enhance their portfolios.
AFIAA Foundation for International Real Estate Investments, based in Zurich, is an investment foundation governed by Swiss law that focuses on foreign real estate.
AFIAA is present in Zurich, Munich, Vienna, Madrid, New York and Toronto, and engages primarily in direct investments in selected locations.
to AFIAA's portfolio," said Hans Jurg Stucki, managing director of the investment advisor to AFIAA, AFIAA-REIM, upon closing the transaction.
real estate and reflects the type of properties AFIAA seeks in our expanded acquisition program: proven, established assets in major markets.
In Groveport, Ohio, southeast of Columbus, AFIAA
purchased a distribution center located at 2829 Rohr Road for approximately USD $51 million.
In spite of the declining prices on the American real estate market due to the US sub-prime crisis, AFIAA
succeeded in achieving a gross gain of about 48% of the acquisition price, this with an equity investment of USD 20.
Established in 2004, AFIAA
holds interests in diversified real estate assets approaching US $1 billion in value, including interests in real estate investment funds owning commercial properties in markets such as Houston, New York, San Francisco and Washington, D.