Patrimonium announces new fund
In October, Patrimonium plans to launch Truststone SICAV, a new real estate investment offering for qualified investors.
The Truststone SICAV is a fund that already has an existing portfolio, according to Patrimonium. It consists of existing properties and a development project.
The expansion of the portfolio will focus on the Lake Geneva basin, Fribourg, Neuchâtel, Basel, Bern and Zurich. The fund will pursue a diversified strategy in the residential and commercial segments, investing in core-plus, value-add and opportunistic properties, Patrimonium added. These include residential properties in the mid-rent segment. Industrial, logistics, office or special properties with long-term rental agreements and/or development potential, mixed-use properties as well as land and development projects.
Truststone is targeting a gross return of around 4.5%. At least 70% of the annual net profit is to be distributed as a dividend. A stock exchange listing of the fund is planned in three to five years.
Units in the new fund can be subscribed for between September 22 and October 2, 2020, with the launch scheduled for October 7. (ah)
