CS REF International raises nearly 190 million
The real estate fund Credit Suisse Real Estate Fund International (CS REF International) received CHF 189.3 million in new money as part of a capital increase. The proceeds are to be used for acquisitions.
The issue was carried out on a commission basis ("best-effort basis") as part of a rights offering in Switzerland. At a subscription ratio of twelve to one (twelve subscription rights entitled to purchase one new unit), 176,074 new units will be issued at a net issue price of CHF 1.075 per unit. This corresponds to a subscription ratio of 100 percent, Credit Suisse reports. Net fund assets now stand at CHF 2.3 billion.
Investment focus of CS REF International is on commercial properties in Europe, Asia-Pacific, and North and South America. (ah)
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