Procimmo: Real Estate SICAV raises 74.5 million
The capital increase of Switzerland's largest fund for logistics and industrial real estate reached the announced target.
The asset manager Procimmo SA has raised CHF 74.5 million for the Procimmo Real Estate SICAV fund. The amount is intended in particular for the financing of three major development projects as well as for acquisitions and the reduction of the debt ratio. The capital increase was fully subscribed.
The subscription period lasted from March 20 to 28 and the shares will be paid out on April 9. "In a recovering market, the success of this capital increase is a strong sign from our investors", says Arno Kneubühler, CEO of Procimmo SA.
With gross assets of around CHF 1.9 billion and just over 100 buildings, the SICAV is the largest real estate fund in Switzerland specializing in industry, commerce and logistics, according to Procimmo. (aw)
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