Helvetica Property: Issue for new fund starts
On October 8, the issuance for Helvetica Property's new real estate fund, Helvetica Swiss Opportunity, started.
The initial offering will run from Oct. 8 to 26, with Helvetica Property seeking up to CHF 65 million for Helvetica Swiss Opportunity (HSO). The aim of the issue is to acquire a high-quality real estate portfolio, the fund management company says. The portfolio is already secured for purchase and has a total volume of around 124 million, it said.
According to the information provided, it consists of eight properties in well-developed locations in the greater Zurich and Basel areas. According to the hybrid investment strategy pursued by HSO, these are commercial properties with high appreciation potential as well as properties with special uses and long-term leases.
The fund management company expects to be able to distribute a dividend of around five percent after the first fiscal year 2019. The property portfolio is expected to have a volume of at least 500 million by the fifth year at the latest. In addition, the fund is expected to be listed in 2023 at the latest. (ah)
