Baar/Zurich, 23 July 2020: The Swiss residential real estate investment group of the Patrimonium Investment Foundation acquires a project in the “Nidfeld” site in Kriens for the construction of more than 100 student apartments. The total investment amounts to around CHF 22 million.
With this acquisition the investment group grows towards CHF 700 million, while a property with attractive returns and an alternative use is added to the portfolio. Construction is being carried out in a general contractor agreement with Losinger Marazzi AG. Planning permission has been issued and the work on the overall development has begun. Completion of the student apartments is planned for summer 2023.
Lucerne as a university location is developing positively with steady growth in the number of students. In total, around 19,000 students study at the location. A new campus for the Lucerne University of Applied Sciences and Arts is under construction in close proximity to Nidfeld, while the Horw campus will also be expanded in the medium term.
The district of Nidfeld is currently in development and is ideally located at the edge of the city of Lucerne, offering excellent public and road transport connections. Within the mixed-use district, 500 apartments for families and small households, as well as offices and retail space are planned. Life in the district and the city thereby combine into an urban identity. Planned to meet Minergie-ECO standards and as a “2000-Watt Site”, the district meets current energy efficiency requirements. The student apartments will be offered in various sizes and all feature bathrooms as well as a private or shared kitchen and balcony. “This acquisition expands the portfolio of the investment group geographically and provides an ideal addition with an alternative residential use and good returns. We offer the students attractive accommodation close to the institutions of the Lucerne University of Applied Sciences and Arts,” says Ruedi Stutz, Director of the Patrimonium Investment Foundation.