La Foncière raises 113 million in issue
All shares were subscribed. The fund will receive CHF 113 million - in particular for acquisitions and the consolidation of the portfolio.
Investissements Fonciers SA (IFSA), the fund management company of La Foncière, has announced the result of the latest capital increase. The capital increase was fully subscribed. Just over one million new shares for a total of CHF 113 million were purchased. The new shares will be issued on June 18, 2024 and listed on the Six Swiss Exchange. "This success confirms the high market appeal of the La Foncière real estate fund," writes IFSA in a press release.
Money for acquisitions and further densification
The fresh capital will be used for the planned acquisition of residential properties, the densification of the existing real estate portfolio and the improvement of energy efficiency. It is also intended to ensure a moderate debt ratio.
According to the fund, 47 new apartments have been built since 2023, mainly as part of extensions, loft conversions or by utilizing existing reserves. At the same time, the fund has completed two new construction projects in Geneva and rented out the apartments, increasing the residential portfolio by 278 apartments. (aw)
