HDG Mansur has closed its first deal in Switzerland, as it continues its strategy for growth in Europe. The international real estate group completed the acquisition of a 16 acre site in Niederbipp, central Switzerland, for more than £20 million (45,050,000 CHF) on behalf of the HSBC Amanah Global Properties Income Fund.

The site contains over 30,000 sq m (320,000 sq ft) of predominantly warehouse and technical space and was acquired directly from one of Europe's most successful industrial warehouse developers. Niederbipp is a strategic logistics location benefiting from government infrastructure and economic growth initiatives and lying in a convenient central position midway between Zurich, Bern and Basle.

The tenant, ND Logistics, a large French distribution company has operations throughout Europe, and is well positioned to prosper as the European Economic Community becomes more integrated and the need for such facilities and distribution services grows.

Chairman and CEO of HDG Mansur, Harold D. Garrison said: “By making its first investment in Switzerland, the Fund increases its European diversification. This particular deal offers a very strong property yield, reflecting an attractive capitalisation rate and the extremely low funding costs available in the Swiss market. Having broken into the Swiss and Swedish markets recently, the Fund is now aimed at targeted growth, and particularly aims to branch into Germany, France, Spain, Poland and the Czech Republic within the next year.”

In the last 12 months, HDG Mansur has advised its clients in the acquisition of global properties worth in excess of £800 million.

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Editors Notes:

HDG Mansur is an international real estate industry leader specialising in wealth management advisory services for high net-worth individuals and select institutions worldwide. HDG Mansur has more than twenty years experience in international property, with specialist knowledge of large-scale master-planned and mixed-use projects. It is particularly experienced in advising, developing and managing £3 billion in real estate investments on behalf of private global clients with properties in the United States, Canada, United Kingdom, Europe and Southeast Asia. HDG Mansur has offices in London, New York and Indianapolis.

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