Patrimonium Foundation’s Swiss Residential Properties Investment Group successfully completes capital increase in October 2020
The Swiss Residential Properties Investment Group of Patrimonium Investment Foundation successfully concluded a capital increase in the amount of CHF 21.5 million in October 2020. The net assets of the Investment Group have accordingly risen to CHF 511 million.
The Swiss Residential Properties Investment Group increased its net assets by CHF 21.5 million to CHF 511 million as at the end of October 2020 by way of a capital call of open capital commitments. The capital increase is being used to fund the property purchases in Vevey (VD) and Bellinzona (TI), a new construction project in Kriens (LU), the ongoing construction projects in Crissier (VD), Basel (BS) and Lugano-Pazzallo (TI) and a reduction of the debt financing ratio. The debt financing ratio following the capital increase amounts to 23%.
The call rate for this capital increase amounted to 45% of open capital commitments. There remain open contracts with capital commitments of CHF 26 million following conclusion of the transaction. The Investment Group remains open for capital commitments up to a total amount of CHF 50 million. The next capital commitment will be announced in 2021. The Investment Group is expected to grow to CHF 750 million to CHF 1 billion in the medium term.
The portfolio of the Swiss Residential Properties Investment Group comprises 54 existing properties, four new construction projects and a plot of building land with fixed assets of around CHF 700 million. The portfolio is diversified regionally with 52% in Western Switzerland and the Lake Geneva Region, 36% in German-speaking Switzerland and 12% in Southern Switzerland. The share of residential properties amounts to 85%, mixed-use properties 7% and commercial properties 9%.