Patrimonium Swiss Real Estate Raises New Capital
The capital increase for the fund, which focuses on apartments in the moderate-rent segment, raised 81 million Swiss francs.
The Patrimonium Swiss Real Estate Fund has announced the results of its most recent capital increase. According to the announcement, all new shares were subscribed, raising CHF 81 million. The proceeds are earmarked for acquisitions and projects, as well as for reducing the debt-to-equity ratio.
The publicly traded fund invests in residential properties in the moderate-rent segment and increased its gross fund assets by nearly 7% to approximately 1.4 billion CHF in the last fiscal year (as of March 31). It consists of 53 residential properties, as well as 13 mixed-use and five commercial properties. The approximately 2,800 apartments are located in the Lake Geneva region and in the cities of Fribourg, Bern, and Basel. The fund’s net income rose from approximately 21 to 25 million CHF. Performance improved year-over-year from 5.8% to 8.5%, while the investment return declined slightly from 5.3% to 4.7%.
