Swiss fund manager UBS said that it plans to carry out a capital increase of up to CHF 530 mln (EUR 361 mln) for its Swiss Mixed Sima real estate investment fund. The fund raising will be executed through the issue of new warrants, and the financial details of the operation will be announced at the beginning of April.
Swiss fund manager UBS said that it plans to carry out a capital increase of up to CHF 530 mln (EUR 361 mln) for its Swiss Mixed Sima real estate investment fund. The fund raising will be executed through the issue of new warrants, and the financial details of the operation will be announced at the beginning of April.
According to the company, the proceeds from the capital raising will be used to finance the acquisition of new properties, the construction of new projects, as well as the repayment of bank financing.
UBS Fund Management added that it reserves the right to postpone the transaction in case of adverse market conditions.
UBS' Swiss Mixed Sima fund is mostly invested in residential and commercial projects across Switzerland's largest cities. The vehicle has a portfolio consisting of 361 properties with a market value of CHF 5.3 bn. Commercial properties represent around 41% of the portfolio, while residential make up another 45% and the rest is mixed-use property.
