UBS Direct Residential: Capital increase in sight
The residential real estate fund UBS Direct Residential is looking for fresh money. A capital increase of CHF 97 million is planned for October and November.
UBS Fund Management announces a capital increase with subscription rights for the UBS (CH) Property Fund - Direct Residential. The fund intends to use the proceeds of the issue, which are expected to amount to around CHF 97 million, to finance the purchase of properties as well as renovations and construction projects. In addition, debt financing is to be repaid.
The fund management company intends to announce the exact terms of the issue at the end of September 2021. (ah)
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