Baloise: Swiss Property Fund plans portfolio purchase
A capital increase of CHF 150 million is planned for the purchase of twelve Baloise Life properties with a market value of CHF 240 million.
Baloise Asset Management Ltd, the fund management company of the Baloise Swiss Property Fund, is planning a capital increase for the beginning of September. With a volume of around CHF 150 million, it is intended to enable the purchase of up to twelve properties by means of an asset transfer from Baloise Life Ltd. According to Baloise, the market value of the portfolio is around CHF 240 million. The difference between the market value and the proceeds would lead to an increase in the real estate fund's debt ratio to around %. The properties are spread across eleven cantons and, according to the fund management company, have "above-average location quality". Finma's approval for the transaction is still pending.
As at September 30, the fund owned 81 properties with a market volume of around CHF 1.08 billion. (aw)
