Sale of a residential building - Fribourg
01 July, 2019 / Successes
Asking price
0 - 5 MIO
Selling price
6 - 15 MIO
Gross yield
4.82%
Commercialisation
Two-stage tendering
Duration of commercialisation
3 months
Canton
Fribourg
Offering an investment property outside the investors' preferred geographical area requires seamless commercialisation.
The building: Located on the left bank of the Sarine, the building overlooks the city of Fribourg. Built in 1964 and renovated in 1995, it consists of two entrances and 4 levels on the ground floor. The complex has 20 apartments with 75 rooms and 1,780m² of rental space.
Naef Investment & Commercial was mandated to sell the residential property. The sale was organised as a two-stage tender. The first month non-binding letters of intent were collected, followed the next month by firm offers. By the end of the third month, the sale was signed with a price higher than the initial asking price.
