196.9 million flowing into CS REF International
The real estate fund Credit Suisse Real Estate Fund (CS REF) International has collected new money in its latest capital increase in the maximum amount of 196.9 million.
With a subscription ratio of 16:1, 179,847 new units will be issued at a net issue price of CHF 1,095 per unit, according to Credit Suisse Asset Management. This corresponds to a subscription ratio of 100%, it added. In the future, there will be just under 3.1 million units of CS REF International in circulation; net fund assets are around 3.3 billion.
The fund management intends to use the issue proceeds for the further expansion and diversification of the real estate portfolio. Most recently, the fund acquired a 29-story office property in Austin, USA. Additional acquisitions of portfolio properties in South Korea and Poland are nearing completion, according to Credit Suisse Asset Management.
CS REF International invests directly in real estate worldwide, with an investment focus on commercially used, good quality properties in attractive locations in North and South America, Asia Pacific and Europe (excluding Switzerland). The fund is aimed exclusively at qualified investors. (ah)
