The capital increase of approximately CHF 27 million of TRUSTSTONE Real Estate Sicav (hereinafter TRUSTSTONE or the Sicav), which took place from October 4 to 18, 2021, has been successfully completed, oversubscribed.
TRUSTSTONE is a new real estate Sicav managed by Patrimonium Asset Management AG since October 2020. In a real estate market characterized by high agios, qualified investors appreciated the opportunity to subscribe at NAV (net asset value) in a developing portfolio that, in the last 12 months, since Patrimonium took over the portfolio, already grew assets under management by +56% and rental income by +121%
The new, fast-growing TRUSTSTONE Real Estate Sicav is actively managed. It invests in Swiss real estate providing attractive returns and/or capital gains with investments in residential, commercial and mixed-use properties as well as land and development projects. The capital raise will finance the acquisition of a number of properties with high development potential and yields between 3.70% and 6.50%, generating significant capital gains for investors.
After the capital increase, the market value of the portfolio will be CHF 93.4 million, spread over 17 buildings with a total of 138 flats and 1 secured construction project with 22 flats. The expected gross yield of the portfolio is 4.3% with an upward trend due to the potential for step rents.
TRUSTSTONE will continue to grow through in-kind contributions and successive capital increases with plans to eventually achieve Swiss stock exchange (SIX) listing with a portfolio of CHF 300-400 million.
TRUSTSTONE Real Estate Sicav is a Swiss real estate Sicav managed by Patrimonium Asset Management AG, which targets qualified investors. It invests in “Core Plus”, “Value Add” and “Opportunistic” real estate in residential properties with low rents, commercial properties with long-term leases and/or development potential, as well as land and development projects. The fund management is delegated to Solufonds SA in Morges and custodian bank is Banque Cantonale Vaudoise in Lausanne. More information: https://www.patrimonium.ch/investment-solutions/truststone