UBS Direct Residential completes capital increase
The capital increase for UBS (CH) Property Fund Direct Residential was fully placed, with proceeds of approximately CHF 94 million accruing to the fund.
According to UBS, a large part of the issue proceeds will be used for acquisitions and new construction projects. According to the information, the fund will acquire residential properties in Biel (investment volume 7 million) and Bad Zurzach (8 million). In addition, 15 million each will flow into the new construction of the "Holenbaumacker" residential property in Egerkingen and the "Zentrum" residential property in Oftringen.
32 million is earmarked for the replacement of the mixed-use property "Zentrumweg" in Niederhasli, and 17 million will be invested in the replacement of a residential property on Ankengasse/Stationstrasse in Wetzikon, it adds.
The remaining proceeds from the issue will be used to purchase additional properties, finance refurbishments and construction projects, and repay debt financing. (ah)
