Acron establishes securitization platform
Real estate investment company Acron has established its own securitization platform to issue bonds for future real estate projects.
Luxembourg-based Acron Securitization S.à r.l. will begin issuing bonds for the group's various real estate projects, Acron announced. The proceeds of the issue will be used exclusively to finance and purchase investment properties in the company's main markets - Switzerland, Austria, Germany and the USA.
Customers can reportedly subscribe to the bonds either directly through Acron or by placing an order via ISIN with the custodian bank.
With its own securitization platform, the company does not want to compete with banks, emphasizes Acron CEO Peer Bender. "For us, it's about being able to offer bonds much faster and always tailored to the specific real estate project to interested parties who prefer this form of participation in our investments."
Meanwhile, Acron announces that a CHF 60 million bond with a coupon of 1.0% p.a. has been repaid on schedule after a three-year maturity. The proceeds of the bond issue have been used in 2016 for the acquisition and renovation of the Sheraton Fisherman's Wharf hotel in San Francisco, which was recently sold to the Spanish hotel chain Riu. (ah)
