North-western Swiss fund seeks fresh capital

A portfolio worth 181.2 million Swiss francs, total comprehensive income of 3.6 million Swiss francs, and now the next step. The sustainable property fund run by BLKB’s fund subsidiary plans to raise new equity capital in the fourth quarter of 2026 to finance further acquisitions and repay debt.

The planned capital increase follows a further rise in valuation during the first half of 2026. The market value of the portfolio rose by 0.95 per cent to 181.2 million Swiss francs, whilst the fund reported a total profit of 3.6 million Swiss francs and a return on investment of 2.79 per cent.

For the property market in north-western Switzerland, this is more than just a figure on the balance sheet. The fund is clearly geographically concentrated, with 83 per cent of its property assets located in the region. This means that fresh capital is flowing primarily to areas where the fund management has focused its acquisitions and where existing properties are to be further developed.

Acquisitions and debt reduction
BLKB Fund Management AG intends to use the proceeds from the first capital increase to acquire properties in line with its strategy and to repay debt. This sends a clear signal to owners and sellers in north-western Switzerland that the fund, which was only launched in 2025, does not intend to remain limited to its initial portfolio.

This expansion is based on a stable operational foundation. Residential properties account for 64 per cent of rental income, whilst the rent default rate stands at 2.75 per cent. This points to a fund that bases its growth plans primarily on residential properties and regionally anchored cash flows.

Still young, but already expanding
The BLKB Sustainable Property Fund was launched in 2025. It had already been announced in the Basellandschaftliche Kantonalbank’s half-year results for 2026 that a capital increase was planned for the second half of 2026. The timeframe is now more specific and has been narrowed down to the fourth quarter of 2026. According to the fund management, a listing on the SIX Swiss Exchange remains planned for a later date.

For the market, one thing is particularly clear. The fund is moving from its start-up phase into the next stage and is seeking to expand its regional presence more rapidly with new equity capital. Whether and to what extent the issue is successful will therefore also depend on how receptive the market currently is to sustainable residential and mixed-use properties in north-western Switzerland.