Swiss Life AM: European Properties seeks fresh money
The real estate fund Swiss Life REF (CH) European Properties is carrying out a capital increase of up to EUR 81 million in September.
According to Swiss Life Asset Managers, both existing and new investors will be able to participate in the capital increase. The planned issue will be carried out on a "best-effort basis". Six subscription rights entitle the holder to acquire one new unit at the issue price of EUR 105.00. A maximum of 777,777 new units in Swiss Life REF (CH) European Properties are to be issued. The subscription period is planned to run from 9 September to 22 September 2021, with payment on 29 September 2021. The issue proceeds are to be used primarily to finance the acquisition of properties in Germany and Belgium that have already been secured or are in exclusivity.
Swiss Life REF (CH) European Properties is aimed at qualified investors. It invests in office, retail and residential properties as well as mixed-use properties in European metropolitan regions, but not in Switzerland. As of the end of July 2021, the portfolio consisted of 15 properties with a market value of EUR 544.9 million. (ah)
