SFP AST completes capital raising
The proceeds were slightly below target, but including reinvestments, the Swiss Real Estate investment group received CHF 51.5 million.
The SFP Investment Foundation has completed a further capital raising for SFP AST Swiss Real Estate. The investment group received CHF 38.5 million, including from 119 new investors. The investment foundation also announced that 90 % of investors opted for the reinvestment option and thus against the cash distribution for the 2023 financial year. This strengthened equity by a further CHF 13.0 million, meaning that the investment group can look forward to a capital inflow of over CHF 51.5 million.
The inflow of capital will be used to further develop the pipeline presented as part of the capital raising. Four properties with a market value of CHF 87.1 million were already integrated into the investment group in the first half of 2024. As at June 30, the market value of the portfolio now stands at CHF 762.4 million. Further properties from the pipeline with a market value of CHF 70.0 million will be developed in the second half of the year. The leverage ratio as at June 30 was 19.9%, which is within the target of "around 20%" previously stated by SFP AST.
When the capital raising was announced in May, a target volume of CHF 40 to 60 million was announced. At the time, it was stated that four properties with a volume of over CHF 90 million had been tied up (IB reported). These properties will be integrated into the portfolio over the coming months. (aw)
