SFP AST Swiss Real Estate: Successful capital raise with strong oversubscription

• Successful completion of a CHF 360 million capital raise
• Significant broadening of the investor base through new investors
• Use of proceeds for strategy-compliant portfolio expansion

In total, subscriptions of over CHF 500 million were received, exceeding the target volume by more than two and a half times. This underlines the continued strong confidence of the investors in the investment group and the long-term strategy of SFP AST SRE.

Due to the identification of additional properties in the expanded pipeline during the subscription period, the issue volume was increased to CHF 360 million, of which 50% will be paid in on the subscription paid-up date of 14 January 2026. Due to the strong demand, all received subscriptions will be proportionally reduced.

“We sincerely thank all investors for their trust. The strategy-aligned broadening of the investor base is particularly encouraging, and SFP AST SRE is pleased to welcome the new investors,” says Matthias Flückiger, Portfolio Manager.

Continued portfolio expansion thanks to attractive pipeline

In Q4 2025, two properties with a purchase price of CHF 118.8 million were successfully integrated into the investment group. With the integration of a logistics property in Meyrin with a market value of CHF 81.0 million, the share of rental income from logistics increased to 25%. The residential property in the Monbijou neighborhood in Bern expanded the region in line with the strategy, increasing the market value share to 9%.

In addition, three properties from the extended pipeline with a total purchase price of CHF 49.2 million were added. The three pure residential properties will be registered in December 2025 and January 2026 and will strengthen the residential share of the portfolio. In the 2026 financial year, two additional development properties in the cities of Zurich and St. Gallen with a purchase price of CHF 110 million will be integrated into the investment group upon completion. Two additional residential developments in Zurich with a total value of CHF 92.7 million are secured, with construction planned to begin in the new financial year.

Investments in existing portfolio and reduction of borrowing ratio

The existing portfolio of the investment group holds significant potential. Four construction projects with a total investment of CHF 48 million and an average return of over 5% are scheduled to start in the new financial year. Upon completion, the investment group can increase income by over CHF 2.5 million. The borrowing ratio will be significantly reduced with the capital call of 20% on 12 December 2025.

Strategic focus on prime locations

SFP AST SRE focuses on high-quality real estate in prime locations. Currently, around 85% of the portfolio is invested in major cities and their surrounding areas (“KGAST Mixed” approx. 65%). The strategic target allocation of 60% residential remains unchanged and is further reinforced by the recent transactions.

Further information

The annual report and prospectus for SFP AST Swiss Real Estate can be found at www.sfp-ast.ch.