Fundamenta Real Estate

What Fundamenta Real Estate does

Fundamenta Real Estate AG is a Swiss publicly listed real estate company (SIX:FREN) founded in 2006 and headquartered in Zug. The company owns and manages a residential real estate portfolio exclusively in German-speaking Switzerland, comprising 63 existing properties plus 2 development projects with a combined balance-sheet value of CHF 1,253 million as of December 31, 2025. It positions itself as the only SIX-listed real estate stock company with a single-focus residential mandate in the German-speaking part of Switzerland, targeting urban markets including Zurich, Basel, Bern, Winterthur, and St. Gallen. Asset management is outsourced to Swiss Prime Site Solutions AG under an integral, interdisciplinary model that combines portfolio, development, construction, and property management under one provider.

The business operates an active asset management model centered on three levers: (1) ongoing rental operations across the existing portfolio, (2) replacement construction, densification, and repositioning of selected properties to lift net rental income, and (3) capital recycling — selling properties with limited potential or regulatory challenges and reinvesting proceeds into the development pipeline and new acquisitions. In 2025 the company delivered net rental income of CHF 42.3 million (vacancy 1.5%), net profit of CHF 46.1 million (+51.2% YoY), and revaluation gains of CHF 27.0 million. It raised CHF 70 million of new equity in November 2025, lifting the equity ratio to 48.0% and reducing LTV to 46.7%, with average financing cost of 1.08% and 6.4-year average remaining maturity.

Revenue mechanics combine recurring net rental income with transactional property sale gains and mark-to-market revaluation gains. Customers are split between fragmented residential tenants (long-tail, low individual value) and institutional and retail investors who access the portfolio through the SIX-listed share. Distribution is via the SIX Swiss Exchange (Ticker FREN, ISIN CH0045825517) for capital and via direct rental for housing. The company pursues ESG positioning through GRESB (Three Star, score 82), the Swiss Sustainable Real Estate Index, and REIDA CO2 benchmarking (9.0 kg CO2eq/m² EBF, below peer average), alongside Minergie-standard renovations on development projects.

Name

Fundamenta Real Estate

Legal name

Fundamenta Real Estate AG

Website

https://fundamentarealestate.ch

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

1–10 employees

Short description

Fundamenta Real Estate AG is a Swiss SIX-listed company that owns and actively manages a CHF 1.25 billion portfolio of residential properties exclusively in German-speaking Switzerland, serving residential tenants and equity investors through a focused urban housing strategy.

Ownership category

akta.pro rank

Product category

Residential Real Estate Investment

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)

SIC

Real Estate Investment Trusts (6798), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)

akta.pro secondary industries

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL), Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

Keywords

• Residential real estate
• Real estate investment
• Property asset management
• Residential portfolio
• SIX-listed REIT

Headquarters

HQ city

Zug

HQ country

Switzerland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Marketing or Sales

Revenue model

1. Net Rental Income: Primary revenue stream from 63 existing residential properties and 2 development projects in German-speaking Switzerland. Net actual rental income of CHF 42.3 million in 2025, with very low vacancy rate of 1.5%. Income generated from residential apartments across portfolio.
2. Property Sales (Capital Recycling): Strategic divestment of properties with regulatory challenges, high investment needs, limited yield potential, or smaller structurally inefficient units. Sales generate gains above book value (CHF 7.0 million in 2025, 15% above book value). Proceeds reinvested into development pipeline and acquisitions.
3. Revaluation Gains: Mark-to-market gains from independent property valuations. Record revaluation success of CHF 27.0 million (before deferred taxes) in 2025, driven by completed development projects and positive market developments.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Fundamenta Real Estate AG owns and actively manages a residential property portfolio in German-speaking Switzerland, comprising 63 existing residential properties plus two development projects with a combined balance-sheet value of CHF 1,253 million as of December 2025. The company generates net rental income from tenants, pursues development and repositioning projects, and recycles capital by selling underperforming assets to reinvest in higher-value opportunities.

Product overview

Fundamenta Real Estate AG operates as a single-focus residential real estate investment company listed on SIX Swiss Exchange, offering an integrated suite of property management services: residential portfolio management across 65 properties valued at CHF 1,253 million, development projects for new construction and densification, active property repositioning for value optimization, and capital recycling to exit underperforming assets. Asset management is provided by Swiss Prime Site Solutions AG using an interdisciplinary, integral approach focused on sustainable residential real estate in German-speaking Switzerland.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Net rental income of CHF 42.3 million in 2025 (+1.1% YoY)
• +4 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Swiss Prime Site Solutions AGcoreImplementation/ SI/ Consulting PartnerAsset management services provider for Fundamenta Real Estate AG. Located at Poststrasse 4a, 6300 Zug. Responsible for portfolio management, investment strategy, and day-to-day asset management operations including construction management, development management, and property management oversight.
• PricewaterhouseCoopers AGcoreOthersExternal audit services provider. Confirmed as auditor by shareholders at General Meetings.
• Construction Companies and General ContractorsminorImplementation/ SI/ Consulting PartnerVarious construction firms, planners, general and total contractors, craftsmen for development projects, repositioning, and facility management.

Scale indicators10 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Allreal Holding: Allreal Holding is a SIX-listed Swiss real estate company combining residential and commercial properties with active project development. Comparable to Fundamenta as a directly competing listed Swiss real estate company with overlapping residential exposure and similar investment/development strategy in German-speaking Switzerland.
• PSP Swiss Property: PSP Swiss Property is a SIX-listed Swiss real estate company holding a commercial-led portfolio. Comparable to Fundamenta as a directly competing listed Swiss REIT with similar geographic exposure to German-speaking Switzerland and the same regulatory framework, though focused on commercial rather than residential properties.
• Mobimo Holding: Mobimo Holding is a SIX-listed Swiss real estate company with residential and commercial properties plus development pipeline. Comparable to Fundamenta as a directly competing listed Swiss REIT with overlapping German-speaking Switzerland footprint and similar capital recycling and development approach.

Regional players

• Hiag Immobilien Holding: Hiag Immobilien is a SIX-listed Swiss real estate company specializing in industrial and logistics properties. Comparable to Fundamenta as a smaller SIX-listed Swiss real estate peer competing for the same Swiss institutional investor base, though focused on industrial/logistics rather than residential.
• Investis Holding: Investis Holding is a SIX-listed Swiss real estate company combining owned residential/commercial properties with real estate services. Comparable to Fundamenta as a SIX-listed Swiss real estate peer with residential exposure in similar geographies, though with a more diversified services-oriented business model.
• Peach Property Group: Peach Property Group is a residential-focused real estate company operating in the DACH region (primarily Germany with Swiss presence). Comparable to Fundamenta as a residential-focused listed REIT operating in the German-speaking European market with similar value-add and development strategy, though primarily Germany-focused rather than Swiss-focused.
• Intershop Holding: Intershop Holding is a SIX-listed Swiss real estate company focused on commercial/retail properties. Comparable to Fundamenta as a smaller SIX-listed Swiss real estate company serving the same Swiss-German investor audience, though operating in commercial rather than residential property segment.

Broad incumbents

• Swiss Prime Site: Swiss Prime Site is the largest SIX-listed Swiss real estate company and parent of Fundamenta's outsourced asset manager (Swiss Prime Site Solutions AG). Comparable as the dominant incumbent in Swiss listed real estate; provides asset management infrastructure for Fundamenta and serves the same investor base, though operates at much larger scale across multiple property types.

Market position

Strengths5 records

Weaknesses3 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fundamenta-real-estate-ag

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fundamenta Real Estate