Swiss Prime AST completes capital increase
With its latest issue for the Swiss investment group, the investment foundation achieves almost the maximum volume targeted and announces a change in the position of COO.
Swiss Prime Investment Foundation (SPA) carried out an issue for its SPA Real Estate Switzerland investment group from May 17 to June 14. The capital increase was completed with a total volume of CHF 69.3 million. A volume of up to CHF 75 million had been announced (IB reported). New investors also subscribed to shares, according to SPS. The funds will be used to expand the portfolio. As at March 31, its market value amounted to CHF 3.99 billion. The capital inflows will also be used to finance development and construction projects such as Riverside Living II in Zuchwil, Co-Next in Muttenz, Tribsche II in Lucerne and La Colombe in Biel. "These developments further contribute to strengthening the residential ratio," writes the investment foundation. The debt ratio will also be reduced. As at March 31, it amounted to 27.2%.
The SPS Investment Foundation also has personnel news to announce: Deniz Orga, previously CIO Europe, is taking over the position of COO and will manage the two investment vehicles "SPA Real Estate Switzerland" and "SPA Living+ Europe". Lorenz Wüthrich, previously Head Acquisition & Sales at SPA, will be his deputy. Reto Felder, previously CIO of "SPA Real Estate Switzerland", will assume "a managerial function" within Swiss Prime Site Solutions. (aw)
