TrustStone Real Estate SICAV has increased capital
As announced, the oversubscribed issue raised CHF 27 million, which will be used to purchase a property in Pully.
Truststone Real Estate SICAV announces the completion of the capital increase, which took place from June 30 to July 8. The transaction was oversubscribed, according to Dominicé & Co Asset Management. As announced, the proceeds amounted to CHF 27 million.
Acquisition in Pully
The capital from the increase will be used to finance the acquisition of a commercial property in Pully. "This acquisition strengthens the geographical diversification of the portfolio and reduces the previous weighting of the property in Etoy," according to a press release. The purchase price amounted to CHF 18.7 million, while a market value estimate was reportedly CHF 19.7 million. Dominicé states the gross yield at 4.98 % and the rental reserve at 4.53 %. The property has four tenants, including three public institutions, with an average remaining lease term of three years in total. (aw)
