SFP AST: Swiss Real Estate raises capital for acquisitions
The investment group intends to use the funds from a capital increase to acquire affiliated properties for 85 million, and purchases for up to 120 million are being examined.
The SFP Investment Foundation will be raising capital for the SFP AST Swiss Real Estate investment group from October 30. The plan is to expand the portfolio with affiliated properties with a volume of around CHF 85 million. Further acquisitions are to be examined in the current financial year. As at August 31, the newly valued portfolio had a market value of CHF 655.3 million, spread across 36 properties.
Acquisitions in Basel, Dielsdorf, Troinex and St. Gallen
The new funds will be used to develop a large part of the connected pipeline, consisting of four properties. A commercial property in Basel on Marktplatz has already been notarized and integrated into the portfolio. A notarized residential property in Dielsdorf is currently being completed and will be integrated into the investment group by January 2024 at the latest. The acquisition of the residential property in Troinex, which has also already been notarized, will then follow with completion in the second half of 2024. The development in St. Gallen is under exclusive review with a planned start of construction in spring 2024.
"Exciting acquisition opportunities"
"The market offers exceptionally exciting acquisition opportunities", writes SFP in a press release. The investment group is currently examining several properties in various regions with a market value of over CHF 120 million, which could be integrated into the portfolio in the fourth quarter. "Depending on the subscription volume, further properties are to be acquired in the current financial year," it says.
Existing and new investors who are permitted to invest in tax-exempt investment foundations under Swiss law and the Articles of Association of the SFP Investment Foundation can participate in the capital increase. The capital increase ends on November 10. (aw)
