UBS "Sima" raises 370 million from capital increase
UBS (CH) Property Fund - Swiss Mixed "Sima" raised CHF 370 million through its capital increase carried out from April 21 to 29, 2016.
The capital market transaction was completed with the payment on May 10, 2016. During the subscription period, 100 percent of the new shares were placed, UBS says.
A large part of the sum is to be used to finance a number of projects, including the construction of a new multigenerational center in Uster (investment volume 80 million), the complete renovation of the Lochäcker residential property in Kloten (investment volume 42 million), the complete renovation of the Ambassadorhouse office property in Opfikon (investment volume 85 million) and the renovation and replacement of the mixed-use Claraturm property in Basel (investment volume 100 million).
In addition, UBS "Sima" intends to use the fresh money to buy additional properties, finance further construction projects and refurbishments, and repay debt financing. (ah)
