Sustainable Real Estate raises 27.5 million at issue
The Sustainable Real Estate Switzerland fund has raised CHF 27.5 million in a capital increase. When the issue was announced in mid-May, a volume of up to CHF 85 million was envisaged.
The proceeds from the capital increase will be used to finance the fund's growth strategy and temporarily reduce the debt financing ratio. The planned portfolio expansion includes the following projects:
- In Vernier (GE), a mixed-use property with 27 apartments and 725 sqm of office and commercial space will be taken over on a turnkey basis after completion. The transfer of ownership is planned for June.
- An apartment building with 29 apartments is being built in Lausanne (VD). Completion is scheduled for June.
- In December 2022, a building plot was acquired in Oensingen (SO) for the construction of five apartment buildings with a total of 34 apartments. Completion is planned for February 2025.
- The property in Corsier-sur-Vevey will be completely renovated in 2024. The building permit has been granted.
In addition, several measures are planned to improve the sustainability of the portfolio, such as the construction of photovoltaic systems and the replacement of fossil fuel heating systems.
AGM for IPO at the end of June
About the planned listing of the fund (IB reported) August/early September 2023 will be decided by an Annual General Meeting. According to Sustainable Real Estate AG, this will take place on June 30. (aw)
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