HSL Fund buys residential portfolio
The Helvetica Swiss Living Fund (HSL Fund) is acquiring a portfolio of eight residential properties at a market value of around CHF 96 million.
According to the fund management company Helvetica Property Investors, the portfolio is made up of high-quality apartment buildings in good locations in five cantons. The eight properties comprise 220 apartments and generate rental income of around CHF 4.2 million per year, according to the information. The properties are all in good to very good condition and well let, Helvetica said.
The acquisition increases the number of rental apartments in the HSL Fund portfolio from 290 to 510 units - spread across 24 residential properties in Swiss growth regions. The market value is now around 220 million, and the target rental income has risen to 9.7 million per year. In addition, there is potential for rent increases in various properties, according to Helvetica.
According to the fund management company, it plans to further expand its portfolio; the investment pipeline is well filled. A further capital increase is planned for the coming year, and a listing of the HSL Fund on the SIX Swiss Exchange is reportedly being examined for 2021 or 2022.
Helvetica further announces that Hans R. Holdener will assume the duties and responsibilities of Chief Investment Officer (CIO) and Head of the Investment Management Team on an ad interim basis as of January 2021. Holdener is a co-founder of Helvetica and was its CEO from 2006 to 2019. He will remain a member of the Investment Committee and the Board of Directors of Helvetica Property Investors AG. (ah)
