Helvetica: Funds gain
Helvetica Property Investors' real estate funds - HSC Fund, HSL Fund and HSO Fund - grew strongly in the first half of the year, mainly due to acquisitions
HSC Fund: Revenues increase
Helvetica Swiss Commercial Fund increased its rental income in the first half of 2021 by 14% year-on-year to CHF 20.7 million thanks to acquisitions. The main reason for the growth was the purchase of properties in the previous year, says Helvetica Property Investors.
The market value of the existing portfolio as of June 30, 2021 was 745.3 million, an increase of 1.4 million. The occupancy rate as of the reporting date was 94.8% (end of 2020: 94.6%. The fund's net income increased by 14% year-on-year to 14.4 million, while total income was 12.7 million, down from 13.3 million a year earlier.Helveltica reports that the income statement was impacted by 0.6 million as a reduction in rental income in connection with the Corona pandemic. This represents 1.3% of the fund's annualized target rental income.
Total fund assets amount to 763.4 million (previous year: 703.4 million), while net fund assets total 490.7 million.
HSL Fund: Strong portfolio growth
The Helvetica Swiss Living Fund (HSL Fund) reports significant growth for the first half of 2021, with acquisitions adding approximately 70% to its real estate portfolio, bringing its market value to CHF 345.8 million.
The portfolio expansion also led to an increase in rental income, which, according to the fund management company, rose byTP2T 1531 toTP2T 4.7 million in the period under review compared with the first half of 2020. The annual target rental income is now 14.1 million compared to 4.5 million in the previous year with an occupancy rate of 92.1%.
Net income increased by 47% to 3.5 million (previous year: 2.4 million) in the reporting period. The valuation of the real estate portfolio resulted in an unrealized gain of 2.7 million (previous year: 2.3 million). The fund management puts the total profit for the first half of 2021 at 5.7 million (previous year: 4.1 million). As of June 30, 2021, total fund assets amounted to 352.1 million, while net fund assets totaled 186.2 million.
The fund management announces the further expansion of the residential real estate portfolio, with a portfolio size of 800 million to be reached in the medium term. A capital increase is to be carried out in the fourth quarter, and the HSL Fund aims to be listed on the SIX Swiss Exchange by the end of 2022.
HSO Fund: Further acquisitions planned
The Helvetica Swiss Opportunity Fund (HSO Fund) strongly expanded its real estate portfolio in the first half of 2021. Through the acquisition of five properties in Pratteln (BL), the real estate portfolio of the Helvetica Swiss Opportunity Fund (HSO Fund) increased significantly - to a value of 194.2 million CHF (31.12.2020: 110.3 million; 30.06.2020: 51.1 million).
As of the balance sheet date on June 30, 2021, the annual target rental income amounted to 11.4 million (PY: 3.6 million) with an occupancy rate of 95.9% (12/31/2020: 99.0%; 06/30/2020: 98.2%), according to information provided by the fund management company. The remaining lease term (WAULT) was 7.7 years (12/31/2020: 8.3 years; 06/30/2020: 6.9 years). Rental and building lease interest income climbed in the reporting period from
The net income of the HSO Fund increased from 0.7 million in the first half of 2020 to 3.1 million. The valuation of the real estate portfolio resulted in an unrealized gain of 8.0 million (previous year: 1.8 million). The total profit for the first half of 2021 is estimated at 9.7 million, compared with 1.9 million in the first half of 2020.
Total fund assets of the HSO Fund reportedly reached 220.7 million, doubling from the end of 2020. Net fund assets were 115.5 million (Dec. 31, 2020: 83.9 million). (ah)
