Swiss Life AST: Second issue also significantly oversubscribed
The Swiss Life Investment Foundation concludes the second, short-term opening of the "Real Estate Switzerland Old Age and Health ESG" investment group with the target volume of CHF 130 million and reaches an important target.
Swiss Life reports that the reopening of the "Real Estate Switzerland Old Age and Health ESG" investment group was also significantly oversubscribed with a volume of CHF 130 million. According to the information provided, 63 employee benefits institutions participated in the issue, which took place from March 25 to April 17.
The newly raised capital will be used to expand the portfolio. For example, a senior citizens' center in Lugano has been secured, according to Swiss Life AST. The funds will also be used to reduce the debt ratio. The entitlements are to be issued on May 6.
The new issue was announced immediately after the previous opening, which took place from January 16 to March 14 and was also significantly oversubscribed with a target volume of CHF 200 million. The purchase in Lugano for CHF 100 million had already been announced in the corresponding press release at the end of March. This was preceded by the purchase of retirement centers in Frauenfeld and Ostermundigen, a medical center in Zurich and an age-appropriate residential property in Porza.
"The continued high level of investor interest since the launch in 2017 underlines the economic attractiveness and social importance of the thematic investment group," says Stephan Thaler, Managing Director of the Swiss Life Investment Foundation. The value of the real estate portfolio has risen to around CHF 1 billion with the latest expansion. (aw)
