bfw liegenschaften ag confirms the sale of the largest property in its portfolio, and announces the purchase of a new residential project in Glattfelden


bfw liegenschaften ag (SIX Swiss Exchange: BLIN) confirms that it sold the largest property in its portfolio – Seehalden 12-28 / Wilenstrasse 10 in 9404 Rorschacherberg (target rental income of approximately CHF 2.38 million p.a.) – as of today for a gross selling price of CHF 41.5 million. The Company had already announced the intention to sell this property on 13 September 2013.

In addition, as of 1 December 2013, two smaller real estates were sold: A residential property on Karl-Völker-Strasse in 9435 Heerbrugg (target rental income of approximately TCHF 279 p.a.), and a residential property on Arbonerstrasse in 8590 Romanshorn (target rental income of approximately TCHF 207 p.a.). Gross selling prices amounted to CHF 4.9 million for the property in Heerbrugg, and to CHF 3.7 million for the one in Romanshorn.

Together with the property sold in Eschlikon in July 2013, bfw liegenschaften ag expects to generate a non-recurring profit from the sale of real estate of approximately CH 6.4 million in fiscal year 2013.

New building project in Glattfelden
As of 16 December 2013, bfw liegenschaften ag purchased a plot of land for an approved new building project on Lettenstrasse in 8192 Glattfelden for CHF 1.2 million. The Company will build a residential property with 24 modern and attractive 2½ to 4½ room apartments, 40 underground and 5 visitor parking spaces. The investment volume for the construction costs is estimated to be approximately CHF 9.7 million. The start of construction is planned for spring 2014, with first occupation scheduled towards autumn 2015.


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