Swiss Life REF Swiss Properties: Capital increase and acquisition in Basel
Swiss Life REF (CH) Swiss Properties has acquired a commercial property on Freie Strasse in Basel and is planning a capital increase for further acquisitions.
The property has a very good quality profile and is leased on a long-term basis, Swiss Life says. After this acquisition, the total market value of the real estate portfolio amounts to over CHF 620 million. Since its launch, the fund has acquired one residential property in Emmen and two mixed-use properties in very good locations in Buchs (SG) and Neuchâtel.
The fund is currently examining further acquisition opportunities. To this end, the fund management intends to carry out a capital increase of around CHF 100 million at the beginning of 2017. The issue of new shares is to be carried out with a subscription ratio of 5:1. The exact terms of the planned capital increase will be announced in January 2017.
The Swiss Life REF (CH) Swiss Properties real estate fund was launched on November 2, 2015. The fund invests primarily in residential properties and in selected commercial properties, preferably located in Swiss cities or their agglomerations. (ah)
