CS REF Green Property wants to increase capital
The Credit Suisse Real Estate Fund Green Property (CS REF Green Property) is carrying out a capital increase from October 30 to November 10, 2017. The fund aims to raise up to CHF 130.2 million.
According to Credit Suisse, the proceeds from the issue will be used to expand the real estate portfolio. For example, a residential development with 73 apartments in Wil (SG) is nearing completion and the "Gleis 0" residential and commercial building will be ready for occupation in summer 2018 as the second stage of the expansion of Aarau railroad station. In Bülach, the official start of construction for the "Bülachguss" site development took place on September 19, 2017. CS REF Green Property is renovating the listed industrial building there to Minergie standards and investing in two construction areas with a total of 242 apartments.
The issue will be carried out on a commission basis ("best-effort basis") as part of a public subscription offer in Switzerland. One subscription right will be allocated to each existing share, and 15 subscription rights entitle the holder to subscribe to one new share. The issue price is CHF 115.00 net with a net asset value of CHF 112.44 per unit.
Official rights trading will take place on the SIX Swiss Exchange AG from October 30 to November 8, 2017. The fund management may not wish to issue any unsubscribed units, which could change the issue amount. The actual number of new units to be issued will be announced on November 15, 2017. Payment will be made on November 17.
CS REF Green Property was launched in 2009 and invests in high-quality new construction projects in strong Swiss economic regions. When selecting properties, a focus is placed on their sustainability.
