CS REF LivingPlus raises 170 million
As part of a capital increase, the real estate fund Credit Suisse Real Estate Fund LivingPlus has raised new money in the maximum amount of 170.04 million.
The proceeds of the issue will be used primarily for the further expansion of the real estate portfolio as well as for the reduction of leverage, Credit Suisse Real Estate Investment Management announced.
The issue was carried out on a commission basis ("best-effort basis") as part of a public rights offering in Switzerland. The official rights trading took place on the SIX Swiss Exchange AG from May 30 to June 8, 2016. At a subscription ratio of 12:1, approximately 1.6 million new shares will be issued at an issue price of CHF 106 net per share, corresponding to a subscription rate of 100 percent.
Launched in 2007, CS REF LivingPlus invests primarily in senior citizen properties, living arrangements with integrated services, and healthcare properties in attractive Swiss locations. (ah)
