Realstone Swiss Property plans capital increase
The real estate fund Realstone Swiss Property plans to issue new fund units worth CHF 100 million in September. The proceeds are to be used to finance future investments and reduce the fund's debt ratio, Realstone says.
The subscription period runs from September 12 to 23, 2016, the payment date is September 30. For five old shares one new share can be subscribed, the subscription price is CHF 122.20/share. The subscription rights will be listed on the stock exchange.
The fund cites the renovation of the Marktmatten property in Lenzburg and Rosiers in Lausanne as well as the value enhancement of Glarnerstrasse in Siebnen and Chailly in Lausanne as the most important projects. In addition, the construction projects Bernstrasse in Ostermundigen and Bruggerstrasse 7 in Wildegg are nearing completion and will be ready in October 2016 (final construction phase A, Bernstrasse) and at the end of the first quarter of 2017 (Bruggerstrasse 7).
Realstone Swiss Property invests primarily in residential properties throughout Switzerland. Currently, the portfolio comprises 55 properties, approximately half of which are located in the German-speaking part of Switzerland. The total assets managed by Realstone Swiss Property amount to approximately CHF 963 million. (ah)
