Baloise Swiss Property Fund plans portfolio takeover
Baloise Asset Management Ltd is planning a capital increase of up to CHF 200 million for the Baloise Swiss Property Fund. The funds are earmarked for a portfolio purchase.
The capital increase is announced for September. The proceeds will be used to acquire up to eight properties by means of an asset transfer. The real estate portfolio is owned by Baloise Life Ltd and Baloise Residential Buildings Ltd. The Finma approval required for the transaction is still pending. In addition to the acquisition, the capital increase also serves to repay debt capital. Baloise has announced that the terms of the issue will be published in July.
The fund focuses on Swiss core and core-plus properties in good locations. In the medium to long term, at least 50% of the portfolio should consist of residential properties and a maximum of 50% of commercial properties. At the end of the third quarter of 2022, the fund owned 73 properties with a market volume of CHF 850.2 million. (aw)
