Swiss Life AST: "Real Estate Switzerland ESG" plans to raise 450 million
The investment foundation recently completed two consecutive issues with its healthcare real estate vehicle. Now the other investment group, which specializes in Swiss apartments, is following suit with an even larger opening.
The Swiss Life Investment Foundation is planning to open the "Real Estate Switzerland ESG" investment group. Claims of up to around CHF 450 million will be issued. The proceeds will be used to acquire a real estate portfolio consisting mainly of apartments "in well-developed urban locations", according to the statement. The subscription period runs from May 6 to June 13. The rights issue is scheduled for July 3.
In January, the "Real Estate Switzerland Ageing and Health ESG" investment group carried out a significantly oversubscribed opening of CHF 200 million, followed shortly afterwards by a second opening of CHF 100 million. The much larger "Real Estate Switzerland" investment group focuses on residential properties of various sizes and years of construction and is broadly diversified geographically. The investment group was launched in 2009 and has since built up a portfolio with a market value of over CHF 4.9 billion. This makes it one of the largest investment vehicles in the Swiss real estate market. (aw)
