Swiss Prime Investment Foundation raises 470 million
Swiss Prime Investment Foundation (SPA) raised CHF 470 million with the second issue for its SPA Real Estate Switzerland investment group. The investment group's equity thus increases to over one billion CHF.
The second issue was again met with great interest from Swiss pension funds from the private and public sectors and was oversubscribed, SPA reports. The investor base was expanded by more than 20 percent and now includes around 230 capital providers.
The investment group intends to use the proceeds from the issue to reduce its borrowings and acquire residential properties with development potential. Gregor Bucher, Managing Director of Swiss Prime Investment Foundation, says: "We are delighted with the subscription result achieved. This again underlines the confidence of investors in Swiss Prime Investment Foundation." (ah)
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