UBS Sima plans a capital increase
The real estate fund UBS Sima is seeking fresh capital for acquisitions and construction projects. The issue is expected to have a volume of up to CHF 203 million.
As UBS announces, the capital increase will be carried out from June 11 to 19, 2020. A maximum of around 2.1 million new fund units are to be issued at a subscription price of CHF 96.40. This brings the issue volume to around CHF 203 million. The subscription ratio is 1:33.
UBS Sima, which invests in residential and commercial properties throughout Switzerland, is continuously making acquisitions and launching construction projects, according to UBS. Construction projects in very good locations in the Basel, Vaud, Geneva and Zurich regions would increase the portfolio volume by a total of about 221 million.
The fund intends to use a large part of the issue proceeds for the complete renovation of a residential property in Binningen (investment volume approx. 24 million), the replacement of a residential and commercial property in the "Ilot Sud" district in Morges (approx. 120 million) and the renovation and extension of a residential property on Rue Hoffmann in Geneva (17 million) as well as for the replacement of a residential property on Grimselstrasse/Saumäcker in Zurich (60 million).
The remaining money will be used to acquire additional properties, finance refurbishments and construction projects, and repay debt financing, UBS says. (ah)
