Rothschild fund Erres seeks fresh capital
Edmond de Rothschild Real Estate SICAV (Erres) has announced that it will increase the capital of the Swiss sub-fund by approximately CHF 270 million.
The capital increase will be used to integrate a real estate company that owns 18 residential and mixed-use
properties with a market value of over CHF 260 million, the fund says. In addition, the fresh capital will be used to finance the already secured acquisition of three residential and mixed-use properties in Geneva at a market value of over 55 million, as well as the construction of two residential complexes in the canton of Geneva and a mixed-use complex in the canton of Bern with a remaining
finance an investment volume of more than CHF 110 million.
The subscription period for the capital increase is scheduled to run from August 31 to September 11, 2020. Erres intends to publish details in the course of August. (ah)
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