Zurich AST: Capital increase to raise 300 million
The purchase of a portfolio of 19 properties is planned for the ZAST Real Estate Residential Switzerland investment group. The residential share is 90 percent.
The Zurich Investment Foundation is planning a capital increase of CHF 300 million for the ZAST Real Estate Residential Switzerland investment group. The Zurich Investment Foundation intends to use the additional funds to acquire 19 properties in Geneva, Zurich, Lausanne and Berne. Around two thirds of the properties are located in Geneva and Lausanne, plus properties in Zurich and one property in Berne. The residential portion accounts for a total of around 90 %.
"The planned acquisition will strengthen our presence in Geneva with properties in prime residential locations in the immediate vicinity of the city center," writes the Zurich Investment Foundation. The properties in Zurich and Lausanne are also in "excellent locations in highly sought-after residential areas". The residential property in Bern is located in the university district near the main railway station.
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