Zurich AST completes 300 million issue
The most recent capital increase of the Swiss residential investment group of Zurich AST serves to acquire new properties and was significantly oversubscribed, according to a press release.
The Zurich Investment Foundation has observed high demand from Swiss investors for investments in its "Real Estate Residential Switzerland" investment group. The capital increase of CHF 300 million was significantly oversubscribed, according to the statement. AST is using the new capital to purchase properties in Geneva, Zurich, Lausanne and Berne.
As part of the capital increase, both existing investors exercised their preferential rights and new investors contributed funds. "In view of the strong competition for real estate investments, the Zurich Investment Foundation sees this as a clear sign of confidence in its real estate investment group and its long-term strategy," said a statement. (aw)
