Steiner Invest seeks fresh capital for Swiss Development Residential
The subscription period is currently running for the twelfth issue of the Steiner Investment Foundation's Swiss Development Residential real estate investment group.
The Steiner Investment Foundation (SIF) is carrying out a CHF 50 million issue for the Swiss Development Residential (SDR) investment group.
According to Steiner Invest, SDR is in the process of exceeding the volume of 500 million in invested capital with transactions in the second quarter of this year and also has an "exciting portfolio of acquisition opportunities" in the coming months. The issue is open to existing and new investors who are permitted to invest in tax-exempt investment foundations. The subscription period runs from June 3 to 26, 2020, allotment will take place on June 30 and payment will be made in July, according to a statement from SIF. The issue commission is 1.50%.
Since its launch in 2017, SIF says it has acquired 30 projects with a current portfolio value of CHF 1.3 billion. During this period, an annualized return of 7% p.a. has been achieved and the net asset value (NAV) currently stands at CHF 121.78 per unit. (ah)
