Helvetia: Swiss Property Fund completes issue
The capital increase will raise CHF 128 million as planned and will be used to purchase four properties in the Basel region and Bern.
The capital increase of the Helvetia (CH) Swiss Property Fund has been completed. This was announced by the fund management company Helvetia Asset Management AG. The targeted volume of around CHF 128 million has reportedly been achieved. The fresh funds will be used to finance the acquisition of four properties from the portfolio of Helvetia Swiss Life Insurance Company Ltd with a market value of around CHF 108 million. Further properties are also to be acquired, according to the statement.
The issue ran until March 19. The aforementioned portfolio consists of three residential properties and one commercial property with a core or core-plus profile in the cantons of Basel-Landschaft, Basel-Stadt and Bern.
The fund's portfolio had a market value of CHF 1.3 billion as at September 30 and will grow to around CHF 1.4 billion as a result of the capital increase.
