Allianz: acquires residential project in Switzerland
(CercleFinance.com) - Allianz Real Estate announces the acquisition of the residential project "Les Hauts du Château," located in Bellevue, near Geneva, as part of a future transaction of around 200 million Swiss francs.
The residential complex will offer nearly 300 apartments on approximately 20,000 m2 of rental space, including several commercial units as well as 325 car parking spaces. Building work has already begun and delivery is scheduled for 2022.
The group said that this investment, the largest ever made by Allianz Real Estate in Switzerland to date, offers an attractive return and will help strengthen the company's position in Geneva, which it says is a strategic location for it.
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