Fresh money for the HSO Fund
The capital increase of the Helvetica Swiss Opportunity Fund (HSO Fund) was fully subscribed, raising approximately CHF 27 million for the fund.
As part of the capital increase, which was carried out from October 19 to 29, 2020, a total of 250,000 new shares at CHF 107.50 net each were subscribed, according to Helvetica Property Investors. Accordingly, the issue proceeds amount to 26.9 million. In the future, 750,000 fund units will be in circulation.
With the new funds, HSO Fund intends to acquire an "extremely centrally located" property in western Switzerland worth around 42 million in condominium ownership. The property has 10,500 sqm of rental space as well as an underground parking garage and is leased long-term to a tenant with a strong credit rating and established in the location, according to Helvetica. The purchase agreement has reportedly already been notarized, and the transfer of ownership will take place in December 2020. According to CEO Michael Müller, the center property also has upside potential. (ah)
