Akara Diversity PK continues to grow
For 2019, its third financial year, Akara Swiss Diversity Property Fund PK reports solid results. The portfolio was expanded by 42 investment properties and development projects during the reporting period.
The 2019 financial year was a pleasing one for the Akara Swiss Diversity Property Fund PK: Income amounts to CHF 45.86 million, rental income to 34.25 million and net income to 32.46 million. Due to revaluations and partial purchases below market value, an appreciation of 14.71 million (+1.57%) remains after the creation of provisions of deferred taxes in the period under review.
The investment return amounts to 5.03% in the reporting period. With a distribution ratio of 100.00%, the distribution yield in the period under review amounts to 3.30% or CHF 35.944/per unit.
The operating profit margin (EBIT margin) of Akara Diversity PK is 72.03%, which is 1.24 percentage points higher than the operating profit margin of the KGAST Immo-Index Mixed investment groups (70.79%, as of 12/31/19). Akara Diversity PK outperforms KGAST Immo-Index Mixed by 0.35% with 4.97% for the period under review (total since launch of the fund: +2.81 pp).
Portfolio strongly expanded
In fiscal 2019, 42 investment properties and development projects with a fair value of approximately 480.47 million were acquired for the Fund, adding approximately 72% to the property pool. Excluding revaluation effects on the existing 2018 portfolio, the 2019 acquisitions alone resulted in an increase in fair value of approximately 64%, an increase in target net rent of more than 53%, an expansion of the residential ratio by 5 percentage points, and an increase in the term of fixed-term leases (WAULT) by 1.38 years to 5.33 years.
As of the balance sheet date, the Akara Diversity PF contains 100 properties (87 existing properties, 13 construction projects with a total of 2,180 apartments and approx. 119,600 sqm of commercial space), with a total market value of 1.25 billion. As of the balance sheet date, Akara Swiss Diversity PK has a secured investment volume from project developments, construction projects, revitalizations and conversions until the end of 2023 totaling more than 316 million - the market value can thus be increased to more than 1.61 billion after completion of the buildings compared to the balance sheet date, according to the fund management. Around 610 new apartments and a maximum of around 28,090 sqm of new commercial space are planned. (bw)
