15. Nov 2022

Swiss Prime Site Solutions Investment Fund Commercial: strong figures in first annual report; third issue


  • Outstanding return on investment of 5.75% for the short financial year
  • Strong cash flow yield of 4.05% well above the target range
  • Third issue from 21 November to 2 December 2022 with subscription on 9 December 2022
  • Subscription ratio of 6:1 with a maximum of 353’262 new units and a maximum issue volume of CHF 36.9 million

The Swiss Prime Site Solutions Investment Fund Commercial («SPSS IFC») can look back on a successful first financial year. The annual report covers the performance over the course of a short financial year of around nine months from the fund’s launch on 17 December 2021. For Swiss Prime Site Solutions’ first real estate fund, 16 properties with a fair value of approximately CHF 346 million were purchased and capital totalling CHF 213 million was raised. Due to various market factors, the commercial real estate market is currently offering interesting investment opportunities with attractive risk/return profiles. The countercyclical focus of the investment strategy is proving shrewd and making us more resilient in the current environment.

Strong investment returns and cash flow yield

The outstanding return on investment of 5.75% and the strong cash flow yield of 4.05% achieved within the short financial year of 9.5 months vindicates the route that the SPSS IFC has taken. The resulting distribution of CHF 3.50 per share corresponds to an attractive cash yield of 3.55% and a dividend ratio of 86% (payment date: 9 December 2022; ex date: 18 November 2022).

Third issue from 21 November to 2 December 2022

SPSS IFC is conducting a rights issue between 21 November and 2 December 2022, 12 pm (CET). A maximum of 353’262 new units will be issued. Each existing unit will be assigned one subscription right. The issue price payable will be CHF 104.46 net. The payment date for the fund units will be 9 December 2022. There will be no official trading in the subscription rights during the subscription period, but they can be freely transferred and traded.

Utilisation of issue proceeds

The issue proceeds will be used to further expand the high-quality property portfolio. Specifically, an attractive, broadly diversified and in some cases exclusive acquisition pipeline with Core+ properties has been built up with a value of approximately CHF 140 million.

Online presentation on Wednesday, 16 November 2022

A video webcast is being held on Wednesday, 16 November at 9 am. A simultaneous French translation of the online presentation will be provided. Register now

Fund profile

The Swiss Prime Site Solutions Investment Fund Commercial contains 16 properties with a combined value of CHF 346 million. The fund pursues an anticyclical investment strategy focusing on commercial properties in good to very good locations throughout Switzerland. The investment focus is on broad diversification, high cash flow stability and economically established locations.

Summary of issue details

Planned maximum number of new units

353’262 units

Subscription period

21 November to 2 December 2022, 12 pm (CET)

Issue price per unit

104.46

Subscription ratio

6:1

Subscription rights trading

There will be no official trading in the subscription rights during the subscription period.

Payment date

9 December 2022

Valor / ISIN

113 909 906 / CH1139099068

Use

The issue proceeds will be used to further expand the high-quality property portfolio.

Legal form

Contractual real estate fund for qualified investors (Art. 25 et seq. CISA)

Investor base

Qualified investors within the meaning of Art. 10 para. 3 and 3ter of CISA in conjunction with Art. 4 paras. 3–5 and Art. 5 paras. 1 and 4 FinSA

Custodian bank

Banque Cantonale Vaudoise (BCV)

Valuation experts

PricewaterhouseCoopers AG, Zurich

Fund management

Swiss Prime Site Solutions AG

Portfolio management

Swiss Prime Site Solutions AG

Tradability

Daily, over-the-counter trading through BCV/PropertyMatch and Lienhardt & Partner Privatbank Zürich AG

 

PRESS RELEASE (PDF)


If you have any questions please contact:
 

Fabian Linke, Business Development & Fundraising
Tel. +41 58 317 17 98​, fabian.linke(at)sps.swiss

Andrea Schaller, Media Relations
Tel. +41 58 317 17 51, andrea.schaller(at)sps.swiss

 


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