Helvetica Swiss Commercial buys properties for 123 million
Helvetica Property Investors has acquired a portfolio of eight properties for a total of CHF 123 million for the Helvetica Swiss Commercial (HSC) real estate fund.
According to Helvetica Property Investors, the properties are in established locations in the economic areas of Zurich, central Switzerland, Basel, western Switzerland and Ticino. The gross-actual yield of the properties is put at 5.9 percent. The properties have a leasable area of around 35,000 sqm, and the actual rent is reportedly around CHF 7.2 million. The occupancy rate is 94 percent, according to Helvetica Property Investors, with further potential for value appreciation. The weighted lease term is 4.1 years, it said.
"By purchasing these properties, we have, among other things, made the move into the Région Lémanique and further strengthened the diversification and revenue base of the HSC fund," says Frederic Königsegg, CIO, Head Investment Management at Helvetica Property Investors.
With the acquisition, the HSC fund also improves its diversification and cash flow base and increases its volume to almost 400 million. This brings the real estate fund "a big step closer" to the listing planned for mid-2019, says Hans R. Holdener, CEO and Managing Partner.
