Sixth issue for SPA Immobilien Schweiz
Swiss Prime Investment Foundation is conducting an issue for its SPA Real Estate Switzerland investment group. It is expected to reach a volume of CHF 82.5 million with a top-up option up to 247.5 million.
The sixth issue of the SPA Immobilien Schweiz investment group will be carried out between June 15 and July 22, according to the Swiss Prime Analgestiftung. Depending on demand, the foundation board will decide whether to increase the issue from 5% (equivalent to 69,967 entitlements) to a maximum of 15% (209,900 entitlements), it added. The issue volume will thus amount to a maximum of around CHF 250 million.
According to the investment foundation, the fresh capital will be used for the purchase of existing properties with commercial and residential use, to finance current development projects in the residential sector and to reduce the debt financing ratio. Over the next few years, development projects amounting to around 400 million are tied up or in the process of being implemented, and the acquisition pipeline has a volume of 200 to 300 million.
At the end of last year, SPA Immobilien Schweiz held 78 properties worth 2.27 billion in its portfolio. Investors are more than 280 Swiss pension funds. (ah)
