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The capital increase for UBS (CH) Property Fund - Swiss Commercial «Swissreal», which ran from 17 to 25 April 2008, was successfully concluded on 2 May, the payment date for new units. The strong demand during the subscription period enabled us to place all of the new units.
As noted in the FundFlash dated 4 April, the bulk of the issue proceeds raised by the UBS «Swissreal» capital increase is being used to finance ongoing construction projects:
Emmen, ALSO logistics centre project
Investment volume of approx. CHF 38m;
completion planned for Q2 2009
Basel, Brunngässlein 8
Existing building (neighbouring building: Picasso-Haus)
Investment volume of approx. CHF 6m;
Pratteln, commercial property Pratteln West
Investment volume of approx. CHF 14m
Berne, Domino project
Training and business centre in Berne-Wankdorf with an investment volume of approx. CHF 76m; completion planned for mid-2008
Renens, canton of Vaud, Plan Léman - Orange Center
Office building with an investment volume of around CHF 55m; completion is planned for end-2008/beginning of 2009
Onex, canton of Geneva, Implenia HQ
Office building with an investment volume of around CHF 37m; completion is planned for mid-2008
The remaining issue proceeds will be used to buy properties, finance additional new construction projects and to repay loans.