ZIF Immobilien Direkt Switzerland generates 330 million
Zurich Invest's real estate fund ZIF Immobilien Direkt Schweiz raised CHF 330 million in its capital increase.
The capital increase with a subscription period from September 16 to 27 was significantly oversubscribed, Zurich Invest said. Approximately 3.2 million new fund units were issued at an issue price of CHF 105.68 each. This means that there will be around 6.4 million units in circulation in the future.
The fund intends to invest the issue proceeds of approximately 330 million in a real estate portfolio of 24 existing properties of Zurich Life Insurance Company. The value of the portfolio is reported to be 426 million. (ah)
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