Fund: Sustainable Real Estate Switzerland raises 53 million
The sustainable real estate fund Sustainable Real Estate Switzerland has raised around CHF 53 million from investors as part of its capital increase.
The funds from the capital increase will be used to finance the further growth of Sustainable Real Estate Switzerland, according to the fund management company. In November 2021, the fund acquired a turnkey residential building in St. Gallen and completed a new construction project with commercial use in Lutry (VD). The fresh money will also be used to finance the ongoing new construction projects in Obfelden (ZH) and Lausanne (VD), and a purchase agreement has also been signed for a turnkey new construction project with mixed use in Vernier (GE). In addition, the fund plans to acquire further properties.
As part of the issue, 506,416 new shares were issued, which means that more than 3 million shares will be outstanding in the future. According to Marco Scheurer, Managing Director of Sustainable Real Estate AG and member of the Board of Directors of Sustainable Real Estate Investments SICAV, over 91% of the subscription rights have been exercised. The interest of new investors was particularly high. There were free subscriptions of around 45 million. However, the allocation had to be significantly reduced due to the large oversubscription. (ah)
