Capital raise of the SFP AST Swiss Real Estate investment group
SFP Investment Foundation will carry out a capital raise with a target volume of CHF 85 million for the SFP AST Swiss Real Estate investment group from 30 October to 10 November 2023, for the further development of the portfolio in line with the strategy.
- Expansion of the portfolio with connected properties with a volume of approximately CHF 85 million
- Examination of further acquisition opportunities with integration in the current financial year
- Subscription period: 30 October 2023 to 10 November 2023
- Subscription paid-up date: 22 November 2023
In the run-up to this capital raise, the existing portfolio was revalued as at 31 August 2023 and reflected accordingly in the NAV published at the end of August. Investors are given the opportunity to invest in a currently valued investment group. As at 31 August 2023, the portfolio has a market value of CHF 655.3 million, spread over 36 properties.
The new funds will be used to develop a large part of the connected pipeline, consisting of four properties. One commercial property in Basel on the Marktplatz has already been notarised and integrated into the portfolio. A notarised residential property in Dielsdorf is in the process of completion and will be integrated into the investment group by January 2024 at the latest. The takeover of the residential property in Troinex, which has also already been notarised, will then follow with completion in the second half of 2024. The development in St. Gallen is under exclusive review with a planned start of construction in spring 2024.
Depending on the subscription volume, further properties are to be acquired in the current financial year. The market offers exceptionally exciting acquisition opportunities. The investment group is currently examining several properties in different regions with a market value of over CHF 120 million that can be integrated into the portfolio in the fourth quarter of 2023.
Existing and new investors who are permitted to invest in tax-exempt investment foundations in accordance with Swiss law and the Articles of Association of the SFP Investment Foundation may participate in the capital raise.
Details of the capital raise
| Approach | "best effort" |
| Subscription volume | Minimum of 100 units for full allocation |
| Issue price | Applicable NAV as at the subscription paid-up date, plus 1.00% dilution hedge (to be credited to the investment group) and 0.25% sales commission |
| Subscription paid-up date (value date) | 22 November 2023 |
| Security number / ISIN | 43 753 274 / CH0437532747 |
| Allocation process | All subscriptions will receive a full allotment up to a maximum volume of 100 million. |
| Subscription period | Start: 30 October 2023 |
All further details on the capital raise will be provided in a personal meeting. Please contact Mauro Golinelli, Head Client Relationship Management & Marketing a.i., or Matthias Flückiger, Portfolio Manager, to arrange an appointment.
The subscription form and the declaration of participation are available for download here.
Further information
More details about the investment universe, investment guidelines and framework conditions can be found in the prospectus at SFP AST Swiss Real Estate.
Contact
Portfolio Manager Real Estate Direct
SFP AST Swiss Real Estate
Member of Senior Management