Swiss Life: Issue of Real Estate Switzerland ESG several times oversubscribed
As planned, the investment group raised CHF 450 million. Over 100 pension funds participated in the opening.
The opening of the "Real Estate Switzerland ESG" investment group of the Swiss Life Investment Foundation has been completed. The issue volume of up to around CHF 450 million was reportedly oversubscribed several times. A total of over 100 employee benefits institutions took part in the opening, which took place from May 6 to June 13.
The investment group will use the fresh capital to purchase additional properties and invest in the portfolio. The capital will also be used to reduce the debt ratio.
Swiss Life Ltd is acquiring around 40 properties in total. They mainly consist of residential properties - according to Swiss Life "with very good property and location qualities" in large cities, their agglomerations and medium-sized centers.
The investment group already has a portfolio with a market value of over CHF 4.9 billion. The purchase increases the market value of the investment group's properties to around CHF 5.4 billion. (aw)
