Procimmo fund raises 58 million
The Procimmo Swiss Commercial Fund II has raised around CHF 58 million from its capital increase. The issue was significantly oversubscribed.
According to Procimmo, the funds raised of over 58 million correspond to 485,362 new fund units. Following completion of the capital transaction on March 29, a total of around 2.67 million units of the Procimmo Swiss Commercial Fund II are now in circulation with qualified investors.
The fund intends to use the fresh money to acquire further commercial and industrial properties in German-speaking Switzerland in the coming months and develop existing potential in the real estate portfolio. There are also plans to reduce the debt financing ratio. The intention is to continue to carry out sale-and-lease-back transactions, as these are attracting increasing interest from sellers, the statement continues.
As at March 31, 2019, the real estate fund held 28 properties in the cantons of Aargau, Basel-Landschaft, Bern, Fribourg, Graubünden, Lucerne, Solothurn and Zurich. It is planned to convert the fund into a public fund and list it on the SIX Swiss Exchange in the 2019/2020 financial year at the earliest. (ah)
