Swiss Life German Fund completes capital increase
The real estate fund Swiss Life REF (LUX) German Core Real Estate SCS, SICAV-SIF has raised more than EUR 100 million as part of its capital increase. The new money will be used to finance acquisitions.
The issue, which ran from May 10 to May 28, 2021, was met with great interest from investors, Swiss Life Asset Managers reports. In total, the issue volume amounted to 108.7 million euros, equivalent to around CHF 119 million. The fund intends to use the capital raised primarily to acquire new, sustainability-oriented properties in Germany, including new construction projects in the residential sector that have already been contractually secured.
In order to offer a stable return portfolio structure, the fund will stick to its long-term target allocation of at least 50% residential properties, Swiss Life AM added. Accordingly, the focus is on properties in metropolitan regions with established markets and sustainable positive performance indicators. In addition, the company is also focusing on commercial properties in good to very good locations in Germany's top 7 cities and in prospering B-cities. (ah)
