Sustainable Real Estate Switzerland: Capital increase in sight
The real estate fund Sustainable Real Estate Switzerland intends to raise up to CHF 53 million through a capital increase.
The funds from the capital increase will be used to finance the growth strategy of Sustainable Real Estate Switzerland, Sustainable Real Estate AG announced. The debt financing ratio will be temporarily reduced. The subscription period runs from 27 October to 24 November 2021; the subscription ratio is 5:1.
In June and July of this year, purchase agreements were signed for three existing properties and three new construction projects. In Fribourg, the fund is acquiring a residential building built in 1951 and renovated in 2004 and 2018, as well as a mixed-use building built in 1965 and renovated in 2000, 2013 and 2015. In Lausanne, Sustainable Real Estate Switzerland is buying a residential building built in 1955. An extension was added in 2008 and the property was renovated in 2014.
The new construction projects are a residential property in Obfelden (ZH), scheduled for completion in January 2023, a residential project in Lausanne, scheduled for completion in May 2023, and a mixed-use new construction project in Vernier (GE), scheduled for completion in February 2023, which the fund will take over on a turnkey basis at that time. The transfer of ownership of the existing properties and the new construction projects in Obfelden and Lausanne has already taken place.
In addition, a turnkey residential building in St. Gallen will be acquired in November 2021 and a new construction project with commercial use in Lutry (VD) will be completed, Sustainable Real Estate AG announced. In total, the investment sum amounts to approximately CHF 108 million. (ah)
