SIF: Capital increase for new investment group
The "Swiss Development Residential" investment group of the Steiner Investment Foundation (SIF) has invested in several large projects since its establishment in March and is now planning a third capital increase.
In recent months, the Steiner Investment Foundation (SIF) has acquired various projects and plots of land for its "Swiss Development Residential" investment group. According to SIF, investments are made in particular in residential projects in Switzerland's top agglomerations.
In Rorschach (SG), SIF and the real estate developer and total contractor Steiner AG want to develop and realize a mixed-use development on the centrally located Feldmühle site, which is directly next to the city train station. The project, which will include rental and owner-occupied apartments as well as office and retail space at affordable prices, is intended to form a new district and help to enhance the center of Rorschach.
In Emmenbrücke near Lucerne, the centrally located Sonnenplatz site was acquired. Around 150 rental and owner-occupied apartments with associated parking spaces are to be built here.
On the Gloggeguet site in Herblingen, around three kilometers northeast of Schaffhausen, around 100 rental and owner-occupied apartments with a shared underground parking garage are being built spread over five residential buildings and two ancillary buildings. One of these annexes is a listed building that will be converted into a nursery.
The Le Genêts site is located in the Petit-Saconnex district northwest of Geneva city center. A development with nine full stories is planned here, part of which is now owned by SIF. There will be 16 rental apartments with 3.5 rooms each and associated parking spaces.
Projects worth 273 million
The market value of the real estate projects after completion is estimated at over CHF 273 million according to current valuation reports, the Steiner Investment Foundation informs.
The acquisition of further real estate projects is currently being prepared, the statement continues. The purchase negotiations are at an advanced stage and are expected to be concluded in the third and fourth quarters of this year. The medium-term growth target is to build up a portfolio of over one billion.
Capital increase over 60 million
There is a large waiting list of new investors for the investment group "Swiss Development Residential", says SIF, which is why a third capital increase will be carried out in September. The issue volume will be 60 million and the subscription period will run from September 6 to 29, 2017. The payment will take place on October 5, 2017.
The indicative issue price per entitlement is CHF 111.28, SIF indicates the net asset value per entitlement at CHF 109.64 (both as of September 30, 2017). The issuing commission amounts to 1.5 percent.
