Realstone Swiss Property completes capital increase
Realstone Swiss Property, a real estate investment fund, raised CHF 62 million in its latest capital increase. For 25.5 million, the fund acquired a property in Affoltern.
According to Realstone, all newly offered shares were subscribed, thus 505,412 new shares with a total value of CHF 62 million came into circulation.
The issue proceeds are to be used for densification and modernization projects and the acquisition of new properties. On July 5, the Realstone fund has already acquired a property with 25 apartments and 3,900 sqm of retail space. It is located in the center of Affoltern am Albis (ZH); the total value of the transaction was 25.5 million. This purchase allows a diversification of the assets in the German-speaking part of Switzerland and an increase in rental income of the fund, Realstone informs.
Realstone Swiss Property is an open-end Swiss real estate investment fund and was founded in June 2008. It invests mainly in residential properties throughout Switzerland. Its portfolio currently comprises 59 properties, about half of which are located in the German-speaking part of Switzerland. The total fund assets are around CHF 1 billion.
