HSBC Real Estate Investment Management is offering investors 100,000 new units in its Elysées Pierre SCPI investment vehicle at a price of EUR 550 each. The company is hoping to raise up to EUR 55 mln of new capital through the offering, increasing the market capitalisation of Elysées Pierre to around EUR 650 mln.
HSBC Real Estate Investment Management is offering investors 100,000 new units in its Elysées Pierre SCPI investment vehicle at a price of EUR 550 each. The company is hoping to raise up to EUR 55 mln of new capital through the offering, increasing the market capitalisation of Elysées Pierre to around EUR 650 mln.
'The operation's objective is to respond to subscription demand which has not been completely satisfied through the last capital increase,' the company said in a statement last week.
Elysées Pierre, which mostly invests in office properties in the Paris region, carried out its latest capital hike in 2009 for a total amount of EUR 50 mln. Last year, the French SCPI vehicle invested in a number of office properties including two floors of the Tour Areva at La Défense and of the Tour de Bercy in Paris.
