UBS: "Sima" raises 213 million in fresh capital
The funds from the fully subscribed issue will be invested in Uster, Zurich and Oftringen.
The capital increase for the Swiss UBS fund Sima, which was carried out from May 2 to 13, 2024, has been fully subscribed, according to a press release. A large part of the issue proceeds of around CHF 213 million will be used for three projects.
The first is the replacement construction of a new residential property on Zelgstrasse in Uster with an investment volume of CHF 87 million. Completion is planned for the first quarter of 2025. The fund is also investing in a new replacement building on Anna-Heer-Strasse in Zurich. Apartments are being built here for CHF 41 million. This project is also scheduled for completion in Q1 2025. Finally, the funds from the capital increase will flow into the purchase of a commercial property on Industriestrasse in Oftringen. The investment volume amounts to around CHF 85 million and the start of construction is planned for Q4 2023.
According to UBS, the remaining issue proceeds will be used to purchase additional properties, finance renovations and construction projects and repay debt financing. (aw)
