Vontobel: Capital raising for sustainable real estate fund
The real estate fund Vontobel Sustainable Real Estate Switzerland plans to carry out its first capital increase in January 2018, raising approximately CHF 50 million.
The proceeds from the issue will be used "for the further expansion of the high-quality real estate portfolio, which consists mainly of residential properties," according to Vontobel Asset Management AG. In particular, the inflowing funds will be used to finance purchases of residential properties that have already been notarized.
The details of the planned capital increase will be published in mid-January 2018. The sustainable real estate fund was established in 2015 and is a sub-fund of Vontobel Real Estate Investments SICAV.
The fund is only authorized for qualified investors in Switzerland. It invests in buildings with a focus on residential properties. In addition, properties with other uses (office, retail, commercial) can also be acquired. According to the fund management, the aim is to achieve "good diversification by location, type of use and tenants" in Switzerland. All properties are also subject to a sustainability assessment.
