New SICAV invests in residential real estate in western Switzerland
A new real estate asset management company, Themis Capital, has been launched. It has set up a SICAV that aims to acquire residential properties primarily in western Switzerland.
The first subscription period for Themis Real Estate SICAV runs from Nov. 4 to Dec. 4, 2020, with the goal of raising CHF 60 million to build a portfolio of residential properties, Themis Capital SA says. Initially, the focus will be on properties in the French-speaking part of Switzerland, and later also in some economic centers in the German-speaking part of Switzerland.
According to Themis Capital, at launch the portfolio will consist of 18 properties, which are already reserved. They consist of 99% of housing (329 apartments) and five stores. The portfolio will reportedly offer upgrading and development potential and will also include construction zones.
In principle, the SICAV's asset allocation shall be composed of Core/Core+ type properties, although opportunistic or value-add properties may be added to the portfolio. (ah)
