Avobis: Subscription period for new residential fund has begun
In the period from October 30 to November 24, Avobis Invest intends to raise CHF 50 million for its first own real estate fund.
The first issue of the Avobis Swiss Residential Fund began on October 30. According to Avobis Invest, the target issue volume is CHF 50 million; the subscription period runs until November 24, with the possibility of an extension to December 1.
According to Avobis, investments are made in existing residential properties in Switzerland that are well let. The properties to be acquired should be in mint condition: turnkey, completely renovated or less than eight years old. The Confederation's future sustainability regulations will be included in the selection of properties, so that the investment risk for the next five to ten years will be very low. Geographically, the fund wants to invest in the economically active regional centers throughout Switzerland and their agglomerations, but not in Ticino and Geneva.
Avobis' goal is for the new fund to reach a volume of around CHF 500 million within five years. The aim is to achieve a stable distribution of more than 3%.
PvB Pernet von Ballmoos AG acts as the fund management company for the externally managed SICAV, while Avobis Invest is responsible for asset management and distribution as the manager of collective assets. Banque Cantonale Vaudoise acts as custodian bank. An IPO of the investment vehicle is not planned. (ah)
