CS REF Logisticsplus seeks fresh money
The real estate fund Credit Suisse Real Estate Fund Logisticsplus announces a capital increase for the beginning of March. The issue is expected to have a volume of up to CHF 185.5 million.
According to a Credit Suisse announcement, a maximum of 1.75 million new units in Credit Suisse Real Estate Fund Logisticsplus (CS REF Logisticsplus) are to be issued at a net price of CHF 106.00. The fund intends to use the proceeds of the issue for the further expansion and diversification of its real estate portfolio.
The subscription period for the capital increase runs from March 1 to 12, 2021, and the subscription ratio is 3:1 (three subscription rights entitle the holder to subscribe to one new share). A subscription rights trade will take place on the SIX Swiss Exchange from March 1 to 10. Payment is expected to take place on March 19, 2021. At the time of the payment - together with the current income for the period from October 1, 2020 to March 19, 2021 - a new net asset value of CHF 102.98 per unit would result, Credit Suisse added. This took into account changes in value from ongoing construction projects and renovations, as well as acquisitions and sales of properties in the current 2020/21 financial year, it said.
According to Credit Suisse, CS REF Logisticsplus is the first Swiss real estate fund to invest in logistics and logistics-related real estate in Switzerland. It is aimed at private and institutional investors. (ah)
