Capital increase for Realstone Swiss Property
Realstone Swiss Property has raised CHF 112.3 million in the course of its capital increase. The fresh funds are to be used primarily for the densification and renewal of the real estate portfolio.
A total of 918,931 shares at CHF 122.20 each were subscribed, Realstone Swiss Property says. They were paid up on September 30, 2016.
The most important projects of the fund include the renovated properties in Lenzburg, Siebnen and Lausanne. In addition, the construction projects in Ostermundigen (final construction phase A) and Wildegg will be completed in October 2016. Another project in the canton of Aargau is scheduled for completion at the end of the first quarter of 2017.
Realstone expects the investments to increase rental income and consolidate fund performance. In addition, the energy efficiency of the renovated properties is to be improved with the aim of reducing costs for tenants and owners.
Realstone Swiss Property invests primarily in residential properties throughout Switzerland. The real estate portfolio currently comprises 56 properties, approximately half of which are located in German-speaking Switzerland. Fund management is the responsibility of Lausanne-based Realstone SA. The total assets managed by Realstone Swiss Property currently amount to approximately CHF 969 million. (ah)
