CS investment foundation seeks fresh capital
The CSA Real Estate Switzerland Commercial and CSA Real Estate Switzerland investment groups of Credit Suisse Investment Foundation are planning issues totaling CHF 600 million.
The issues for the two investment groups are scheduled to take place in the second quarter of 2022, Credit Suisse Investment Foundation (CSA) announces. The aim is to further strengthen the portfolios.
The opening of CSA Real Estate Switzerland Commercial is expected to have a volume of CHF 250 million and will start on April 25, 2022. Subscriptions are open to tax-exempt pension funds domiciled in Switzerland - both existing investors and new investors can subscribe to units. The maximum subscription per closing date and investor is 20 million, CSA said. The new capital will be used to expand the portfolio.
The investment group invests directly in a portfolio of commercial real estate in Switzerland, primarily in properties with office and retail space, supplemented by investments in other types of use such as logistics or commercial. According to CSA, the investment group currently has total assets of 1.8 billion and owns 31 properties.
The capital increase of CSA Real Estate Switzerland will take place from May 9 to 13, 2022 and is expected to reach a maximum size of 350 million. Only existing investors can participate and the maximum subscription is 20 million per investor. The new capital will be used for the reduction of the leverage ratio, the realization of new construction projects and ongoing investments in the portfolio, CSA said.
The investment group's investments are concentrated on well-located multi-family houses in Swiss cities and their agglomerations. It also holds commercial properties in preferred locations. The total assets of CSA Real Estate Switzerland currently amount to 8.4 billion; the investment group is invested in 261 properties. (ah)
