Helvetica Swiss Commercial: Sale in Ticino
The real estate fund has disposed of a property in Chiasso as part of its portfolio optimization.
The Helvetica Swiss Commercial Fund (HSC Fund) has sold a property from its portfolio. According to the fund, the property in question is a multi-storey office building with underground parking at Via Livio 1 / Via Motta 24 in Chiasso in the canton of Ticino. The fund acquired the property, which was built in 1995, in 2018. According to Helvetica, the sale price reflects the fair market valuation of the property by the external valuation expert.
With the publication of the half-year financial statements, Helvetica announced its intention to sell properties worth CHF 30 million in order to reduce the debt ratio to 28% by the end of the year. The HSC Fund is making progress towards this goal: two properties have been sold at a profit so far, with the total sale price amounting to over CHF 24 million, according to Helvetica. The market value of the fund portfolio will decrease by CHF 21 million compared to June 30, 2023. The leverage ratio as at June 30, 2023 has fallen from 30.7% to 28.4% due to the sale in Münchwilen and will reach the target corridor of 25% to 28% thanks to the sale in Chiasso. (ah)
