UBS: "Sima" completes large capital increase
A CHF 350 million issue by the fund heavyweight went ahead as planned.
UBS Asset Management announces the completion of the capital increase of the "Sima" real estate fund, which took place from April 24 to May 5. All new shares were subscribed and the fund received CHF 356 million. The proceeds will be used for the acquisition of the "Younic" new-build residential project in Dübendorf (investment volume: CHF 190 million), the purchase of the "Metropol" mixed-use new-build project in Wetzikon (investment volume 1st stage: CHF 70 million) and the "Acacias" replacement residential building in Geneva (investment volume: CHF 176 million). The remaining funds will be used to finance further acquisitions and projects. The repayment of debt financing should also be made possible.
The fund, which now has a volume of CHF 7.5 billion, carried out its last capital increase in May 2024, issuing shares for around CHF 200 million. (aw)
