Baloise Swiss Property Fund plans portfolio acquisition
The Baloise Swiss Property Fund intends to purchase a real estate portfolio worth CHF 185.2 million from Basler Versicherung and Basler Leben. To finance the transaction, the fund management company is considering a capital increase.
The property portfolio consists of 17 core/core+ properties across Switzerland and the residential portion amounts to 83%, Baloise Asset Management said. The transaction has already been approved by the financial regulator FINMA.
To finance the acquisition, the fund management intends to issue new fund units and raise debt capital in August. The issue volume of the capital increase is expected to be between CHF 130 and 140 million.
The Baloise Swiss Property Fund was launched in October 2018 and held 56 properties with a market volume of CHF 618.5 million as of 31 March this year. (ah)
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