Truststone with growth in Geneva
Truststone SICAV, the real estate fund managed by Patrimonium, has expanded its portfolio in Geneva by 8% through a contribution in kind.
In summer 2023, the Truststone Real Estate SICAV concluded a non-cash contribution transaction with a qualified investor for a building with twelve apartments and three commercial arcades at 22 Rue Voltaire in Geneva. According to the fund management of Patrimonium, the contribution will increase the SICAV's total assets by around CHF 9 million, which corresponds to an increase of 8%. The building has potential for improvement, which is to be realized as part of renovations in the course of tenant rotation. (aw)
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