UBS: Re-opening and acquisition for investment group AST-KIS
The UBS AST Commercial Real Estate Switzerland (UBS AST-KIS) investment group of the UBS Investment Foundation for Employee Pensions will be open for subscriptions until 24 June 2016. It is planned to allocate subscriptions in the amount of approximately CHF 75 million.
Re-opening takes place under special conditions and according to a special procedure. Only Swiss pension funds in investment groups of the UBS Investment Foundation for Pension Plans can invest in UBS AST-KIS1. The proceeds of the issue will be used to repay debt financing, to finance construction projects and to purchase real estate, UBS says.
The portfolio of the UBS AST-KIS investment group currently comprises 38 properties and has a market value volume of around CHF 580 million. As of June 1, 2016, the investment group acquired a portfolio with four portfolio properties in Basel, Chiasso (TI), Muttenz (BL) and Reinach (BL). The properties are primarily used for commercial purposes (office, retail, commercial), two properties also have a small residential component. All four buildings contain a UBS office. (ah)
