GR Real Estate Switzerland raises 53 million
The real estate fund GR Immobilien Schweiz raised CHF 53 million in its capital increase. According to the private bank Von Graffenried, the issue was oversubscribed.
As part of the capital increase, 489,918 new shares were issued at a price of CHF 108.50 each in GR Immobilien Schweiz, Von Graffenried AG announced. The capital increase was oversubscribed and the investor base was significantly expanded with the issue.
GR Immobilien Schweiz intends to use the issue proceeds of 53 million to finance its growth. Among other things, acquisitions are planned, and a further 64 apartments in an existing property with 96 apartments in Wabern will be renovated and modernized to make them more energy-efficient.
The GR Immobilien Schweiz real estate fund invests primarily in real estate assets in the Espace Mitteland region. Since its launch in March 2020, the fund, which is managed by the private bank Von Graffenried AG, has acquired eight residential developments with a total of 320 apartments in urban locations. (ah)
