UBS Europe acquires first properties
The UBS (CH) Property Fund Europe has made its first investments. Two properties were acquired near Oslo.
UBS (CH) Property Fund Europe has invested 45 million euros in an "excellent micro and macro location" in Sandvika near Oslo, UBS has announced. The two properties mainly comprise assisted living for the elderly, supplemented by retail and office space. The tenant with a remaining term of 19 years is reportedly the local municipality. Due to the index-linked rental agreements and their structure, attractive rental growth potential can also be expected in the future, UBS added.
UBS Europe was launched in May 2018 as a European real estate fund under Swiss law. In the long term, it is to be developed into a large pan-European flagship product that invests in core real estate in various sectors across Europe. In recent months, the fund team has received offers for investment opportunities worth more than EUR 1.3 billion, including in Germany, France, Italy, Spain, Benelux and Scandinavia, and has carried out initial reviews. Properties worth around EUR 100 million have been subjected to in-depth due diligence.
The aim of the fund is to achieve a total return of over 4 percent p.a. in CHF in the build-up phase up to the stock market listing, which is planned in 18 to 24 months. (ah)
