Varia US Properties announces capital increase
Zug, Switzerland-based residential real estate investor Varia US Properties plans to issue new registered shares to further expand its portfolio.
Varia US Properties AG announces that the Board of Directors may increase the share capital at any time until June 26, 2022, by issuing up to 2.25 million registered shares at market price. The approval for this was given by the shareholders at the Annual General Meeting on June 26, 2020.
"The U.S. multifamily sector has proven resilient during the Covid 19 pandemic and we believe the sector offers favorable entry conditions," said Patrick Richard, delegate of Varia's board of directors. The real estate company intends to continue to take advantage of the current attractive market opportunities in growing suburban markets in the U.S. and the low interest rate environment, he said.
Varia also announced that rental revenue earned in the month of September was 97.6% of budgeted revenue and 101.4% of rental revenue earned in March. The company takes March as a benchmark during the Corona pandemic. (ah)
