Cronos Immo Fund: Issue reaches target volume
The most recent capital increase raised CHF 70 million and all shares were subscribed.
According to the fund management company Cronos Finance SA from Pully, the Cronos Immo Fund has completed its eleventh capital increase. All new shares with a total value of CHF 70 million have been subscribed. The payment date is February 28.
The proceeds from the issue will be used to finance the five construction projects in the portfolio and to acquire new properties. According to Cronos, negotiations for the planned purchases are already underway or close to completion. Funds will also be used to renovate the oldest existing buildings. A slight reduction in the debt financing ratio is also planned. 90 % of the fund is currently invested in residential real estate. (aw)
