Fresh money for the Patrimonium Investment Foundation
The Residential Real Estate Switzerland investment group of Patrimonium Investment Foundation increased its net assets by 21.5 million to 511 million as part of a capital call.
According to Patrimonium, the fresh money will be used to finance the purchase of properties in Vevey (VD) and Bellinzona (TI) as well as a new construction project in Kriens (LU) and ongoing new construction projects in Crissier (VD), Basel (BS) and Lugano-Pazzallo (TI). In addition, the aim is to reduce the debt financing ratio; it amounts to 23% after the capital increase.
The call rate in this capital increase amounted to 45% of open capital commitments, there are now still open contracts for capital commitments of 26 million, Patrimonium further informs. The investment group remains open for capital commitments up to a total of 50 million, it said. A next capital increase is planned for 2021. In the medium term, the assets of the investment group are expected to grow to 750 million to 1 billion. (ah)
