Realstone Swiss Property: Capital increase raises 69 million
Around 551,400 new units in the Realstone Swiss Property real estate fund were subscribed as part of the latest capital issue. This represents an inflow of CHF 69 million into the fund.
From the fund management's perspective, the capital issue for Realstone Swiss Property was "crowned with success": at the end of the subscription period on December 7, 2017, a total of 551,358 new units had been subscribed, which corresponds to an amount of around CHF 69 million. The payment and listing will take place on December 14, 2017.
According to the fund management company, the target was "far exceeded". The proceeds from the issue will be used to pursue the fund's value creation strategy through densification and renovation projects for existing properties. The aim is to increase rental income and consolidate the asset value of the real estate portfolio. At the same time, the issue of the new shares should also help to reduce the fund's debt ratio.
Realstone Swiss Property is an open-ended Swiss real estate investment fund founded in June 2008. It invests mainly in residential properties throughout Switzerland. Its portfolio currently comprises 57 properties, more than half of which are located in German-speaking Switzerland. The fund is managed by Realstone SA, based in Lausanne. The total assets of the Realstone Swiss Property Fund currently amount to around one billion.
