Baloise Swiss Property Fund wants to buy more

The Baloise Swiss Property Fund was launched in October 2018 and holds a portfolio of 35 properties with a market value of around 355.4 million as of the end of March this year.

Further growth is planned: The fund management company is looking into acquiring 20 properties worth 193.9 million from Basler Versicherung and Basler Leben, Baloise Asset Management says. The portfolio reportedly consists of core/core plus properties across Switzerland with a residential component of 77%. It is characterized by very good location quality with high earnings and value stability, it adds. Finma has already approved the transaction, it said.

To finance the portfolio purchase, new units of the fund are to be issued in the fall of 2019. Baloise Asset Management intends to announce the exact terms at a later date. (ah)