Realstone Swiss Property seeks fresh capital
The Realstone Swiss Property real estate fund plans to carry out another capital issue in July. The fund management expects an inflow of up to CHF 62 million.
The fund management intends to use the proceeds from the issue to acquire further properties, pursue its value creation strategy and increase the fund's acquisition flexibility, according to a press release. The capital issue is also aimed at reducing sensitivity to interest rates thanks to a reduction in financial leverage.
The subscription period runs from July 3 to July 11, 2018, and the payment date has been set for July 18, 2018. Twelve currently held shares entitle the holder to subscribe for one new share. The subscription rights will be listed on the stock exchange. The subscription price is CHF 123.00 per share. The possible number of new shares amounts to 505,412, which corresponds to an amount of around CHF 62 million.
Realstone Swiss Property is an open-ended Swiss real estate investment fund that invests throughout Switzerland, mainly in residential real estate. Its portfolio currently comprises 58 properties, around half of which are located in German-speaking Switzerland. The fund is managed by Realstone SA. The total assets of the Realstone Swiss Property Fund currently amount to around CHF 1 billion.
