Zurich Investment Foundation launches further issue
ZAST's residential investment group wants to raise a total of CHF 300 million for the purchase of nine properties.
The Zurich Investment Foundation (ZAST) is carrying out a capital increase of CHF 300 million for the "Swiss Residential Real Estate" investment group. The additional funds are earmarked for the purchase of nine properties in Geneva, Lucerne and Zurich. ZAST is stating the capital requirement for this as the full amount of the capital increase.
According to the information provided, the properties are in prime Swiss locations and offer good property quality. For example, three of the five residential properties in Geneva are located in the immediate vicinity of the UN district with good transport links. There is also attractive rental potential in Geneva and Lucerne. The investment group already owns adjacent buildings for some of the properties, resulting in synergies.
The subscription period for existing investors began on October 9 and runs until November 3; new investors can subscribe for shares from November 6 to 30.
ZAST completed its last capital increase in the summer (IB reported). (aw)
