Sustainable Real Estate Switzerland seeks fresh money
The real estate fund Sustainable Real Estate Switzerland intends to raise up to CHF 64 million through a capital increase.
The subscription period for the capital increase of the sustainable fund Sustainable Real Estate Switzerland runs until November 23, 2022. With a subscription ratio of 5 to 1, a maximum of 607,699 new shares will be issued at an issue price of CHF 107.20 each. Currently, a good 3.04 million shares of the fund are outstanding.
The issue, which has a volume of up to CHF 64 million, is intended to finance the fund's growth strategy, Sustainable Real Estate AG announces. Most recently, the fund signed a letter of intent for the acquisition of a building plot and the conclusion of a total contractor agreement for a new construction project in Oensingen (SO), it said. A commercial property in Thun (BE) was acquired in August, and three new construction projects will be ready for occupancy between January and May 2023: these are reportedly properties in Obfelden (ZH), in Vernier (GE; forward purchase, turnkey) and in Lausanne. The investment sum for the new buildings totals CHF 79 million, according to Sustainable Real Estate AG.
According to the statement, a distribution of CHF 2.38 per share has been approved for the 2021/22 financial year, corresponding to a distribution yield of 2.23%. In addition, the articles of association were amended at the annual general meeting to enable a future listing of the fund, it said. Investors would have to approve an IPO in advance. (ah)
