Business · Companies · 8 hrs ago
Swiss property fund plans 26 million-franc capital increase
Sustainable Real Estate Switzerland bought two properties in St. Gallen and Dübendorf for about 17 million francs.
The fund also won the right to buy another property in Fribourg.
The St. Gallen building has 24 apartments and two commercial units, while the Dübendorf property has six apartments and two commercial units, with room to expand to 14 apartments.
To refinance the purchases and fund further investments, the fund plans to raise about 26 million francs from 9 to 23 November.
New shares will be offered at 109.85 francs each, with one new share available for every 14 existing shares.
Some of the proceeds will fund energy upgrades and heating-system replacements in properties in Tann, Belp and Thun.
The new shares are scheduled to be paid for on 27 November.
Sustainable Real Estate Switzerland plans to raise about 26 million francs through a capital increase.
The funds will refinance recent property purchases and support further investments.
The fund bought properties in St. Gallen and Dübendorf for about 17 million francs in total.
It has also been selected to buy another property in Fribourg.
Part of the proceeds will go toward energy renovations and heating-system replacements in Tann, Belp and Thun.
- Who
- Sustainable Real Estate Switzerland, a real estate fund.
- What
- It plans a capital increase of about 26 million francs to refinance purchases and fund further investments.
- When
- The subscription period runs from November 9 to 23; payment is scheduled for November 27.
- Where
- The fund’s properties are in St. Gallen, Dübendorf and Fribourg, with planned upgrades in Tann, Belp and Thun.
- Why
- To refinance property purchases and finance further investments, including energy renovations and heating-system replacements.
This story does not have two clearly opposing sides.
The fund announced its property purchases, its selection to buy a property in Fribourg and plans for a capital increase.
The fund plans to conduct the capital increase.
Payment for the new shares is scheduled.
- Planned capital increase
- About 26 million francs
- Subscription ratio
- 14 to 1
- Issue price
- 109.85 francs per new share
- St. Gallen and Dübendorf purchases
- About 17 million francs in total
- Subscription period
- November 9–23
- Scheduled payment
- November 27