New Acquisition and Sale of Two Buildings
Dominicé has acquired a new residential building in Lausanne for its real estate fund at the end of June 2021. The 618m2 building consists of 13 apartments and 2 parking spaces overlooking the lake and the city. It is located in a quiet residential area at 47 Avenue du Gray, at a close proximity to public transportation and various amenities.
This new acquisition fits perfectly within the strategy of the fund that focuses on affordable residential rental units close to public transportation, offering attractive returns and potential for development. These rental units are in high demand due to the convenient location of the building and its proximity to the city center of Lausanne, leading to the vacancy rate close to zero. Furthermore, current rents being below the market provides rental reserve of more than 30%.
This acquisition follows the sale of two buildings in Lucens in Q1 2021 with the fund realizing capital gains.
These transactions strengthen the quality of Dominicé’s real estate portfolio by decreasing the overall vacancy rate, increasing potential for development and presence in urban centers. This is an excellent opportunity to create value through active fund management and improve the sustainability profile of the portfolio through renovations and densification, whilst leveraging on the expertise of our real estate team.