Helvetia: Swiss Property Fund plans capital increase
Among other things, the fresh funds will be used to acquire a portfolio of three residential properties.
The fund management company Helvetia Asset Management AG is planning a capital increase of the Helvetia (CH) Swiss Property Fund with a volume of around CHF 128 million in March. The fund intends to use the proceeds to finance a real estate portfolio with a market value of around CHF 108 million and the purchase of further properties. The aforementioned portfolio, which the fund is considering acquiring according to the press release, comes from the holdings of Helvetia Swiss Life Insurance Company Ltd. The Finma approval required for the transaction has been obtained.
The portfolio consists of three residential properties and one commercial property. Helvetia specifies the risk profile as «core/core plus» and the locations are spread across three cantons. Zürcher Kantonalbank will act as lead manager for the issue.
