Helvetia Investment Foundation: Three acquisitions after capital increase
Following its capital increase of CHF 170 million for the Real Estate Switzerland investment group, Helvetia Investment Foundation has already made additional purchases. Three properties were acquired for 60 million.
Helvetia Investment Foundation has purchased a project property in the "Les Cèdres" development project in Chavannes-près-Renens near Lausanne, a residential development in Niederglatt, Zurich, and a commercial building in Interlaken. "The investments were made at attractive conditions," says the managing director of Helvetia Investment Foundation, Dunja Schwander.
The acquisitions are financed from the 170 million capital increase of the Swiss Real Estate investment group this spring. A corresponding capital call is planned for October at the net asset value as of the end of September, Helvetia Investment Foundation announces.
The investment group was launched in fall 2012, and currently just under 400 million is invested directly primarily in residential and mixed-use properties. Over the next two years, the portfolio will be further expanded with four new construction projects worth 100 million. The market value of completed buildings has increased by over 125 million in the last two years. Further acquisitions worth 120 million are currently under consideration, according to Helvetia.
