Utilita seeks fresh capital
The Utilita Investment Foundation will carry out a capital increase for its investment group "Non-Profit Real Estate Switzerland" at the beginning of 2020.
According to Utilita, the issue is to have a maximum volume of CHF 50 million. The proceeds are to be used to expand the portfolio of the "Non-Profit Real Estate Switzerland" investment group.
The subscription period will run from January 20 to February 14, 2020, it adds. The target group is Swiss pension funds.
Utilita was founded in February 2017; the investment group's portfolio is worth around 100 million. It comprises existing properties in German and French-speaking Switzerland as well as two larger properties under construction. The planned annual growth of 40 to 60 million was well achieved in the last financial year with around 64 million, the investment foundation said.
Utilita invests in residential real estate throughout Switzerland that has a non-profit orientation - such as residential buildings with low or cost rents, apartments for the elderly or students, cooperative apartments or land that is sold under building rights. (ah)
