Helvetica Swiss Commercial secures portfolio
The new real estate fund Helvetica Swiss Commercial acquires an initial portfolio of four properties for a purchase price of CHF 110 million.
The properties are in very good locations in the greater Zug area, Zurich and eastern Switzerland. The leasable area is 45,000 sqm; the tenants are highly diversified with a diverse mix of uses, according to fund management company Helvetica Property Investors AG.
The ACTUAL gross yield of the properties is 5.8 percent (target: approx. 6.7%). The average rent is CHF 139/sqm/year (total: 6.37m), well below the Swiss average of CHF 210/sqm/year. The occupancy rate is around 85 percent.
Helvetica Swiss Commercial is currently open for subscriptions, so the fresh capital can be invested directly. With the purchase, a distribution after the first business year of the fund is also secured, Helvetica Property Investors AG further announces.
The fund invests 70 percent in commercial and 30 percent in residential properties throughout Switzerland. The long-term target return is four to five percent, with a maximum leverage ratio of 33 percent. (ah)
