In Switzerland and abroad, the acquisition, sale, holding, management, administration, operation and promotion of real estate, as well as the acquisition of participations in real estate companies, excluding any transactions involving residential real estate in Switzerland; the company may carry out, either on its own account or on behalf of third parties, all financial, commercial, industrial, movable and immovable transactions (except those prohibited by the LFAIE) in Switzerland and abroad, directly or indirectly related to the main purpose and likely to promote its development; it may also establish branches and subsidiaries in Switzerland and abroad; it may also grant loans to its shareholders or third parties and guarantee, secure or co-sign loans granted by third parties to its shareholders, in exchange for adequate consideration.