Helvetia (CH) Swiss Property Fund seeks fresh money
Helvetia Asset Management is carrying out a capital increase of up to CHF 210 million for the Helvetia (CH) Swiss Property Fund. The proceeds will be used for the acquisition of a real estate portfolio.
As already announced in mid-February, Helvetia Asset Management AG is considering the acquisition of a property portfolio with a market value of CHF 298.2 million for the Helvetia (CH) Swiss Property Fund. The portfolio consists of five residential properties and five mixed-use residential and commercial properties of Helvetia Swiss Life Insurance Company Ltd. It is characterized by good property and location quality with high earnings and value stability. The residential share of target rental income is reportedly 79%, and the vacancy rate is 2.9% (01.12.21). Geographically, the properties are spread across Zurich (33% of market value), Eastern Switzerland (18%), Bern (17%), Central Switzerland (16%), Northwestern Switzerland (12%) and Western Switzerland (4%).
To finance the purchase, the company intends to carry out a capital increase of up to CHF 210 million; in addition, it intends to raise around CHF 100 million in debt capital. The subscription period for the capital increase has been set from March 8 to 22 and the subscription period from March 8 to 28, 2022.
A maximum of 2 million shares are to be issued as part of the issue of the new shares, increasing the number of shares in circulation from 4.5 million to a maximum of 6.5 million. (bw)
