Schroder Immoplus raises 186 million
Schroder Investment Management's real estate fund Schroder Immoplus has completed its capital increase.
According to the fund management company, investors subscribed for new units with an equivalent value of CHF 186.1 million. A total of around 1.3 million new units were subscribed at the subscription and issue price of CHF 140 each, it said. According to the statement, 99.95% of all subscription rights were exercised, the remaining units were subscribed by existing investors.
Schroders Immoplus intends to use the proceeds from the capital increase, together with an increase in debt capital, for the acquisition of an office property in a central location in Geneva and a research center in northwestern Switzerland.
The office property on Rue de Lausanne near the Geneva-Cornavin train station was acquired by Credit Suisse, according to Schroders, and has an average lease term of 7.8 years.
The transaction in Stein/Sisseln (AG) covers several properties where Syngenta's research center is located, according to the announcement. The lease term is 30 years. The site was acquired in a sale and leaseback transaction. The total value of both investments is approximately CHF 450 million. (ah)
