Capital increase for Patrimonium fund in June

According to Patrimonium, the proceeds from the issue will be used to repay debt financing, fund ongoing projects and further expand the portfolio. The subscription period is expected to run from June 21 to July 3, 2018; the fund management intends to announce further information before the capital measure. The capital increase will be carried out in compliance with the subscription rights of existing unitholders, the statement added.

As of Sept. 30, 2017, the fund's investment assets reportedly totaled CHF 771 million and consisted of approximately 85 percent residential properties, 10 percent commercial properties and 5 percent mixed-use properties. In the past year, three properties with a total of 120 apartments were totally renovated and around 80 apartments were partially renovated, Patrimonium says.

In addition, three new construction projects were started in 2017; currently, a total of seven increase projects are in the implementation phase. Most recently, the fund acquired a property in Fribourg with 35 apartments and part of the Oassis new construction project with 70 apartments in Crissier. Building permission has been granted for a new construction project with 47 apartments in Montreux.