Fund: Fresh money for the Baloise Swiss Property Fund
The capital increase carried out by Baloise Asset Management for the Baloise Swiss Property Fund has brought CHF 135 million into the fund's coffers. The proceeds are to be used to finance an acquisition.
According to Baloise Asset Management, the second capital increase for the Baloise Swiss Property Fund was significantly oversubscribed. With a subscription ratio of 19:5, 1.24 million new units were subscribed at an issue price of CHF 110.70 net each. The new units were paid on September 1, 2021, at which time approximately 5.95 fund units will be in circulation.
The fund management company intends to use the proceeds of CHF 135 million to acquire a portfolio from Basler Versicherung and Basler Leben. The portfolio consists of 17 properties with a market value of CHF 185 million. In addition, a mortgage of around CHF 50 million is to be taken out to finance the purchase of the portfolio. The Baloise Swiss Property Fund thus now owns 73 properties with a market value of around CHF 804 million. (ah)
