Updated: May 5
St. Petersburg, FL: Stoneweg, U.S.,LLC, announced that the Swiss Stock Exchange listed company, Varia US Properties AG (VARN), for whom Stoneweg U.S. LLC is the asset manager, successfully issued a 50 million CHF (approximately 50 million USD) 3.00% fixed rate bond with a 4-year duration on May 22nd. The issuance of the bond is the first-ever in Varia US Properties AG’s history and represents a major strategic accomplishment for both companies in 2019.
The proceeds of the bond will serve for future U.S. acquisitions, and major Capex projects for existing properties in Varia’s portfolio slated for 2019.
Bank Vontobel AG, a Swiss-based company specializing in Wealth Management, Investment Banking Solutions, and Asset Management, acted as the lead manager for the transaction. The payout is slated for June 20, 2019.
About Stoneweg US
Stoneweg US is a multifamily real estate investment and development firm located in the heart of downtown St. Petersburg with a portfolio of over 11,000 units valued at approximately $900 million. The Company invests in multifamily assets properties positioned for strong growth and focuses on increasing investor returns, while improving the resident experience through a variety of value-add strategies. For more information on Stoneweg US, please visit: www.stoneweg.us