Varia US Properties has bought again
Varia US Properties has acquired around 1,200 residential units in the US. This means that the proceeds from the bond issue in May have been fully invested, the company said.
According to Varia US Properties, the proceeds of CHF 50 million from the bond issue in May 2019 have been fully invested. In total, the company purchased three properties with 1,261 residential units. One of the properties is located in Memphis, Tennessee, and the other two are in Kansas City, Missouri. The properties are located in regions with favorable demographics and good employment numbers, Varia said.
The acquisitions were financed by improved financing conditions on the U.S. market, the statement continues: The first two properties were acquired with a ten-year loan with an interest rate of 3.50% and the third with a ten-year loan of 3.19% - a very low interest rate for the U.S. credit market.
Varia also confirmed the targeted dividend of CHF 2.60 per share for the 2019 financial year, to be distributed after the Annual General Meeting in April 2020. (ah)
