The company's purpose is to manage properties. The company may establish branches and subsidiaries in Switzerland and abroad and participate in other companies in Switzerland and abroad. The company may acquire, hold and sell real estate. The company may carry out all commercial, financial and other activities that are connected with the company's purpose. The company may grant loans and other direct or indirect financing to its direct and indirect subsidiaries and third parties, including its direct and indirect shareholders and their direct and indirect subsidiaries, and provide security for the liabilities of these companies, including by way of pledges on the company's assets or guarantees of any kind. This also applies without consideration, on preferential terms, without interest, excluding the company's profit motive and assuming cluster risks.