Promising outlook for Swiss Prime Site Solutions
PRESS RELEASE
Zurich, 3 September 2020
Promising outlook for Swiss Prime Site Solutions
After positive 2019 year-end figures, Swiss Prime Site Solutions continued its success in the first half of 2020. Assets under management rose by 5% compared to the previous year. Anastasius Tschopp, CEO of Swiss Prime Site Solutions, has been appointed to the Swiss Prime Site Executive Board
In the first half of 2020, Swiss Prime Site Solutions processed all tenant enquiries for the client Swiss Prime Investment Foundation (SPIF) and launched its sixth bond issue despite the unusual circumstances. Assets under management rose by 5% compared to the previous year, to CHF 2.3 billion. The goal of increasing assets under management to CHF 2.6 billion by the end of 2020 was announced at the financial results press conference for the Swiss Prime Site Group. Swiss Prime Site Solutions’ development expertise enabled it to start additional construction projects.
Despite the challenging environment, the vacancy rate in the SPIF portfolio fell to 4.17% (31.12.2019: 4.95%). Following a sharp drop in transaction activity in the first half of 2020 due to the coronavirus pandemic, an acquisition worth around CHF 100 million was successfully completed in Q3 2020. Three more purchases are currently undergoing detailed assessment and will be concluded shortly.
Personnel changes
Philippe Brändle will become the new CFO of Swiss Prime Site Solutions from 1 January 2021. He holds two master’s degrees, one in Architecture from ETH and one in Business Administration with a focus on finance and accounting from the University of Bern. He previously served as CEO of Verit Investment Management AG. Prior to that, he acquired extensive expertise in positions at Allianz Suisse, PwC and Wüest Partner. Bernhard Rychen, the outgoing CFO of Swiss Prime Site Solutions, will fully dedicate himself to his previous role of Head of Group Accounting of the Swiss Prime Site Group at his own request.
In addition, Anastasius Tschopp, CEO of Swiss Prime Site Solutions since 2018, will join the Swiss Prime Site Executive Board from 1 January 2021. «I am really looking forward to joining the Swiss Prime Site Group leadership team and achieving further growth with the strong team at Swiss Prime Site Solutions. Completed transactions and the further realisation of the development pipeline will bring us closer to our goals for the end of 2020», said Anastasius Tschopp, CEO of Swiss Prime Site Solutions.