Erres: Capital increase fully subscribed

The capital increase, which was carried out between August 31 and September 11, 2020, was fully subscribed, announces Edmond de Rothschild Real Estate SICAV (Erres). The issuance of approximately 2.3 million new shares has generated a cash inflow of CHF 272.2 million, it said.

With the fresh money, Erres intends to integrate a real estate company that holds 18 residential and mixed-use properties with a market value of over 260 million in its portfolio. In addition, the acquisition - already secured - of three residential and mixed-use properties in Geneva with a market value of more than 55 million and of two residential buildings under construction in the canton of Geneva as well as a mixed-use property in the canton of Berne with a remaining investment volume of more than 110 million is planned. (ah)