Solvalor 61: Fund receives 176 million in fresh capital
The Solvalor 61 real estate fund is using the funds from the latest issue to purchase new properties and for ongoing construction projects.
From October 16 to 29, the Solvalor 61 fund carried out a capital increase. According to the information provided, all new shares placed on the market were subscribed. The capital contribution of CHF 176 million is to be used for the purchase of new properties and for construction and renovation projects.
In particular, the purchase of two properties under construction at Route des Morillons 24 and 26 in Geneva is to be financed. The first property is a residential building subject to the Geneva ZDLoc system with a fixed rent for ten years. The asset represents a total investment of CHF 57 million and will generate an estimated gross yield of 3.9% upon completion. The second building, whose strategy envisages use as an aparthotel, represents a total investment of CHF 48 million with an estimated gross yield of 5.7% after completion. The residential building is scheduled for completion in 2026 and the aparthotel in 2027.
In addition, three further residential properties were acquired in the last thirteen months. The first property was purchased for CHF 12 million with a gross yield of 3.8% at Avenue Maria-Belgia 4 and 6 in Lausanne. The second building was acquired for CHF 8 million with a gross yield of 3.9% at Avenue de la Confrérie 40/Avenue des Acacias 4, 6 in Prilly (VD). The third purchase, amounting to CHF 6 million and with a gross yield of 3.8%, concerned the property at 58 Avenue de Chailly in Lausanne.
20 million for construction project in Lancy
The new funds will also be used to finance construction and renovation projects within the portfolio. The planned projects include the renovation and extension of the properties Chemin du Bac 10, 12 and 14 and Avenue du Petit-Lancy 27, 29, 31 and 31 bis in Lancy (GE) and the conversion of a commercial space into residential space within the same complex. The estimated total investment for this project is CHF 20 million. The return on investment is estimated at 6.3% for the extension and 9.0% for the conversion into residential space.
Finally, the remaining amount from the issue proceeds will be used to repay part of the mortgage debt. (aw)
