Sustainable Real Estate Investments: timber construction fund not coming
The second attempt to launch a sub-fund of the Sustainable Real Estate Investments SICAV specializing in timber buildings was also unsuccessful.
The planned initial volume for the launch of the "Sustainable Real Estate Wood" sub-fund was not reached. This was announced by the Board of Directors of Sustainable Real Estate Investments SICAV. The new fund was to be managed as a sub-fund of the SICAV. The Board of Directors of the fund has now decided to abandon the project. "The concept of a sustainable fund with a focus on Swiss residential real estate in timber construction has met with great interest from the qualified investors targeted," says Marco Scheurer, Managing Director of Sustainable Real Estate AG. However, investors are "very reluctant to invest in new funds with a focus on new buildings in the current market environment".
The target volume of the initial issue was set at a maximum of CHF 100 million in November. This was the second attempt to launch the fund after the first one was aborted. (aw)
