Investment Foundation 1291 launches "Real Estate Switzerland" investment group
The newly established Swiss investment foundation 1291 intends to launch the "Real Estate Switzerland" investment group. The initial issue volume is expected to be up to CHF 100 million.
The "Real Estate Switzerland" investment group of the 1291 Investment Foundation intends to invest directly in real estate throughout Switzerland. The aim is to achieve a diversified portfolio, with residential real estate accounting for at least 60 percent, according to the investment foundation. In addition to the macro and micro location, the economic environment and the infrastructure of the respective location, the selection criteria also include sensible utilization concepts and market-oriented rents.
The subscription period runs from August 20 to September 11, 2018; the minimum subscription amount is CHF 100,000. The allocation will take place on September 12 and the payment on September 17 of this year.
The Swiss investment foundation 1291 was established in August this year by Butti Bauunternehmung. Nova Property Management, which also manages the listed Novavest Real Estate among others, has been entrusted with asset management. Smaller and medium-sized pension funds can transfer their directly held real estate portfolio to the investment foundation by means of contributions in kind. The advantages are greater diversification and professional portfolio management, and the investment foundation's networking with project developers also allows it to tap into potential for increasing the value of real estate, for example through conversions, according to a statement.
Dr. Mark Montanari was appointed to the founding foundation board as foundation board president, Albert Leiser as vice president and Stephan Keller as foundation board member and managing director. (ah)
