Criteria

ACRON´s investment focus is on portfolio properties (acquisition in the form of asset or share deals as well as sale-and-leaseback transactions) on the one hand and on participation by ACRON as an end investor in project development on the other hand.

A general requirement is long-term income security by way of:

• long lease terms with tenants with excellent credit ratings,
• indexed leases,
• bank guarantees,
• if necessary, letters of comfort or declarations of joint liability
  by group or parent company of tenant,
• purchase prices secured by appraisal,
• upside potential for property value of real estate.

Requirement Profile

Swiss Real Estate

Type of property	Office property (Minergie certification a plus), Hotel, Retail (Retail and Shopping center), Logistics property
Year constructed	New / like new Project (if leasing completed)
Tenant	Office property: At least 10 years / max. 2 – 3 tenants Hotel: 25 years / operator with excellent credit rating Retail: At least 15 years / anchor tenant Logistics: At least 15 years / single credit tenant
Lease	Streamlined leases, double net / triple net, 100 % indexing
Type of ownership	Real property ownership preferred Construction rights: At least 70 % compensation for reversion (Heimfallentschädigung) Min. term 70 years
Purchase price	Approx. CHF 20 million to CHF 200 million

 

International Real Estate

Type of property	Trophy office buildings / LEED certified
Location	Germany, Western Europe, North and South
Year constructed	New / like new Project (if leasing completed)
Tenant	Highest quality tenants
Lease	Min. term 15 years, 100 % indexing
Type of property	Hotels
Location	Worldwide (except Central and Eastern Europe)
Category	At least 4-star-plus segment, 5-star segment preferred
Lease	Lease or hybrid lease preferred, Double or triple net; no management agreements, Min. term 25 years, indexed leases
Security	Guarantee by parent or holding company