UBS Swissreal raises 128 million from capital increase
The UBS "Swissreal" real estate fund has placed all its units as part of its capital increase, raising CHF 128 million.
According to the fund management of UBS (CH) Property Fund - Swiss Commercial "Swissreal", a large part of the issue proceeds will be used for three projects:
The fund has acquired the Route de Crassier commercial property in Eysins, the investment volume is around CHF 61 million. The acquisition took place in the third quarter of 2016.
Starting in the fourth quarter of last year, the fund purchased the Route du Verney commercial property in Puidoux for CHF 28 million.
CHF 62 million is being invested in the construction of the new Gümligenfeld Center commercial property in Muri near Bern. Completion is scheduled for the second quarter of 2018.
The Swissreal Fund intends to use the remaining proceeds from the issue to acquire additional properties, finance refurbishments and construction projects, and repay debt financing.
