SPA Immobilien Schweiz opens up for fresh capital
Swiss Prime Investment Foundation is conducting a fifth issue for the SPA Real Estate Switzerland investment group. The size is expected to be CHF 100 million, with a possible increase to up to CHF 125 million.
According to Swiss Prime Investment Foundation, the issue will be carried out in the period from October 1 to 31, 2019; both existing and new investors can participate. The volume of CHF 100 million or up to CHF 125 million corresponds to around 6.5% of net assets or a maximum of 8.2% if the top-up option is exercised, it said.
The investment group intends to use the capital to finance the ongoing development and conversion projects in Lucerne, Liestal, Martigny and Zurich), to reduce the leverage ratio, and also for acquisitions. In the further expansion of the real estate portfolio, the company intends to give high priority to portfolio diversification and cash flow returns. At present, the real estate portfolio of commercial and residential properties has a market value of around 2.2 billion.
Swiss Prime Investment Foundation intends to publish details on the issue price, the payment and the current pipeline shortly before the start of the subscription period. (ah)
