Capital increase for the UBS Sima
At the end of April, a capital increase with subscription rights for the UBS (CH) Property Fund - Swiss Mixed (UBS Sima) of around CHF 370 million will be carried out. The fund management intends to use the proceeds to raise additional funds for the acquisition of existing properties, the financing of new construction projects and the repayment of debt financing.
Among other things, part of the issue proceeds will be used for the redevelopment of the Ambassador House in Opfikon (investment volume approx. CHF 85 million, planned completion 2nd quarter 2017), the overall redevelopment of the Via Pretorio shopping center in Lugano (investment volume approx. CHF 30 million, planned completion 3rd quarter 2017) and the Claraturm project in Basel (investment volume approx. CHF 100 million, planned completion 2nd quarter 2019).
The subscription ratio is 1:15, up to 4.35 million new shares will be issued at a subscription price of CHF 85.20. The subscription rights will be traded on the Swiss stock exchange between April 21 and April 27, 2016. The payment and delivery of the new shares will take place on May 10, 2016.
In fiscal 2015, the fund expanded its portfolio, exceeding the eight-billion mark. Over the past three years, the property portfolio has grown by around 20 percent. The portfolio has also continued to grow in recent months: UBS Sima recently invested in various new construction and refurbishment projects, primarily in the Zurich region, thereby increasing the portfolio by around CHF 388 million.
The net asset value per unit increased by 3.1 percent and the investment return was 7.4 percent. (ah)
