Baloise Swiss Property Fund targets capital increase

Switzerland’s Baloise Asset Management has announced plans for a capital increase of CHF 150 mln (€162.9 mln) for the Baloise Swiss Property Fund.

Baloise residential

These funds are earmarked to facilitate the acquisition of a substantial real estate portfolio. The subscription period is tentatively set for the second half of August 2026. The fund is currently evaluating the purchase of 14 properties with a combined market value of roughly CHF 300 mln (€325.7 mln).

The assets are distributed across ten cantons and are currently held by Baloise Life. This asset transfer is subject to FINMA approval, which is currently pending.

The gap between the capital raise and the purchase price will be bridged through strategic portfolio divestments and additional debt. Post-transaction, the fund aims for a leverage ratio of 23% to 25%.

The proposed acquisition serves several key purposes, including strengthening the fund’s geographic and asset footprint, enhancing the trading liquidity of the fund’s shares on the SIX Swiss Exchange and maintaining the fund’s core objective of generating consistent returns through high-quality Swiss real estate.

The final terms of the capital increase will be disclosed in due course. The issue price will be calculated based on the unadjusted net asset value as of 31 March 2026, plus accumulated income and issuance fees. It should be noted that the capital increase may be delayed depending on prevailing market conditions.

The Baloise Swiss Property Fund focuses on core/core plus properties in Switzerland. It maintains a balanced sectoral approach, targeting at least 50% residential and a maximum of 50% commercial assets. As of 30 September 2025, the fund’s portfolio comprised 91 properties valued at approximately CHF 1.34 bn (€1.45 bn).