Helvetia completes capital increase in full
With the fresh funds, the purchase of a portfolio of seven properties worth around CHF 250 million has been finalized.
The capital increase of the Helvetia (CH) Swiss Property Fund has been completed. As announced, the fund has raised funds with a volume of CHF 166 million. The approximately 1.6 million shares were fully subscribed. The funds will be used to finance the acquisition of seven properties from the portfolio of Helvetia Swiss Life Insurance Company Ltd with a market value of around CHF 252 million. The Core/Core+ properties are located in the cantons of Zurich, St. Gallen, Basel-Stadt and Neuchâtel and, according to Helvetia Asset Management, have a "very high" proportion of residential properties.
Following the capital increase, the fund is positioned in the mid-range of listed real estate funds with a market value of around CHF 1.3 billion. (aw)
