The capital increases announced in August for Patrimonium Investment Foundation’s property investment groups have been successfully completed.
With CHF 104.5 million raised, the “Swiss Residential Properties” investment group significantly exceeded its targets. This excellent result can be attributed to the improved market environment for Swiss residential property, Patrimonium’s track record over many years and the investment group’s attractive development pipeline. The capital increase will be used in particular to finance the current total renovation projects in Basel, Muttenz and Bellinzona, the development pipeline and acquisitions.
Subscriptions totalling CHF 26.6 million were received for the “Swiss Healthcare Properties” investment group. The funds will be used in a targeted way to support the growth strategy and to finance projects such as new-build flats for the elderly in Kriens (LU) and a health centre in Bülach (ZH). There are also expansion and development projects, such as Hôtel Au Parc – Fribourg (FR), Ingenbohl-Brunnen (SZ) and En Chise in Crissier (VD), with a total investment volume of over CHF 100 million.
“We are very pleased with the excellent result of this capital increase,” says Ruedi Stutz, Director of the Patrimonium investment foundation. “Thanks to strong demand and the confidence of our investors, we can ensure the growth and development of both investment groups. Swiss real estate remains particularly attractive for pension funds. Residential property is benefiting from rising rents and the growing shortage of housing. Healthcare real estate helps to diversify the property portfolio, with net cash flow yields of around 4% – thanks to indexed, long-term rental contracts and the demographic trend in Switzerland. With almost 100 investors, the healthcare real estate investment group has successfully established itself.
The capital calls will take place in mid-November. For the “Swiss Residential Properties” investment group, 50% of the subscribed capital is being called (a capital increase of CHF 52.25 million), while the “Swiss Healthcare Properties” investment group is being called in full. The next capital calls are scheduled for 2025.
Patrimonium Investment Foundation manages real estate assets of over CHF 1.4 billion. Its investors include more than 170 Swiss pension funds.