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The capital increase for UBS (CH) Property Fund - Swiss Commercial «Swissreal», which ran from 19 to 27 April 2007, was successfully concluded on 4 May, the payment date for new units. The strong demand during the subscription period enabled us to place all of the new units.
As already communicated on 30 March, the bulk of the issue proceeds raised by the UBS «Swissreal» capital increase is being used to finance three ongoing construction projects:
"Domino" (Feusi School) business and education centre in Berne-Wankdorf (total investment approximately CHF 76 million, usable space of some 22,300 m2, scheduled for completion in mid-2008)
"Implenia HQ", a commercial property in Onex-Geneva, (total investment approximately CHF 37 million, usable space of some 8,700 m2, scheduled for completion in mid-2008)
"Plan Léman-Orange HQ", a commercial property in Renens, canton of Vaud, (total investment around CHF 55 million, usable space of some 12,300 m2, scheduled for completion at the end of 2008)
The remaining issue proceeds will be used to buy properties, finance additional new construction projects and to repay loans.