Avobis extends subscription period until March
Instead of the end of November, the Avobis Swiss Residential Fund will now collect its starting capital by March. However, the response so far has been positive, writes Avobis Invest.
The timetable for the first issue of the Avobis Swiss Residential Fund SICAV has been significantly postponed. As announced by Avobis Invest AG, the subscription period, which was originally scheduled to run from October 24 to November 30, has been extended to March 2024. "In this way, investors who wish to adjust their investment strategy in 2024 and strengthen their allocation in the residential real estate sector can also participate in the first issue of the Avobis Swiss Residential Fund," writes Avobis in a press release.
The response to the initial issue was "positive" despite the difficult market environment, Avobis added. The current situation offers buying opportunities in the fund's preferred locations and properties. As the product invests exclusively in properties in mint condition, the ability to pay out dividends is guaranteed and the maintenance risks for the next five to ten years are reduced to a minimum. "There is no accumulated maintenance and the properties already meet the necessary ESG requirements." A volume of around CHF 500 million is to be achieved within five years. The issue volume amounts to CHF 50 million (IB reported). (aw)
