Helvetica Fund: Growth through acquisitions
Helvetica Property Investors' three real estate funds - HSC Fund, HSL Fund and HSO Fund - significantly increased rental income in the first half of 2021, according to preliminary unaudited results.
HSC Fund: Rental income increases by 14%
The Helvetica Swiss Commercial Fund (HSC Fund) recorded rental income of CHF 20.7 million in the first half of 2021, up 14% on the previous year (18.2 million), according to the fund management company. The increase was mostly due to acquisitions of attractive properties during the previous year, Helvetica Property Investors said. The fund did not acquire any properties in the first half of this year.
The value of the property portfolio was 745.3m (31.12.2020: 743.9m). The occupancy rate at the end of the half-year was 94.8% (31.12.2020: 94.6%; 30.06.2020: 94.4%).
Total fund assets decreased from 770.1m at the end of 2020 to 763.4m, but increased by 60m compared to the first half of 2020 (30/06/2020: 703.4m). Net fund assets came in at 490.7m - down from 500.2m at the end of 2020.
The net asset value per fund unit was CHF 112.99 as at 30 June 2021. Adjusted for the distribution of CHF 5.10 per fund unit, this represents an increase of 2.7% compared to year-end 2020, according to Helvetica Property Investors.
HSL Fund: Real estate portfolio grows by around 70%
The Helvetica Swiss Living Fund (HSL Fund) has used the funds from a capital increase carried out in the first half of 2021 to acquire ten residential properties and one property under construction with a total of over 300 apartments and a value of around CHF 130 million. The value of the property portfolio as at 30 June 2021 was 345.8m, which is 70% more than at the end of 2020 (31.12.2020: 204.3m; 30.06.2020: 100.8m), according to the fund management company.
As a result of the portfolio expansion, rental income also increased: They increased by 153% to 4.7m in the reporting period (H1 2020: 1.8m). Annual target rental income climbed from 4.5m in the first half of 2020 to 14.1m.
According to the fund management company, the occupancy rate as of 30 June 2021 was 92.1% (31.12.2020: 89.2%; 30.06.2020: 86.9%). Total income for the first half of 2021 amounted to 5.7 million, compared with 4.1 million in the previous year.
The total fund assets of the HSL Fund reached 352.1 million as at the reporting date at the end of June - at the end of 2020 the figure was 225.1 million. Taking into account the distributed CHF 3.10 per fund unit, the net fund assets reached a value of 186.2 million as at the reporting date (31.12.2020: 148.5 million). The net asset value per fund unit was CHF 108.66 as at 30 June 2021, an increase of 3.3% compared with the end of 2020.
HSO Fund: Total fund assets almost doubled
The Helvetica Swiss Opportunity Fund (HSO Fund) increased its real estate portfolio to CHF 194.2 million in the first half of 2021 through the purchase of five properties in Pratteln (BL) (31.12.2020: 110.3 million). Rental income rose from 1.6 million in the first half of 2020 to 3.3 million, and total income increased from 1.9 million in the same period of the previous year to 9.7 million.
As at the balance sheet date of 30 June 2021, the annual target rental income of the property portfolio now amounted to 11.4m (H1 2020: 3.6m). The occupancy rate decreased from 99.0% at the end of 2020 to 95.9%. According to the fund management company, the remaining lease term (WAULT) was 7.4 years as at 30 June 2021 (31 December 2020: 8.3 years).
The HSO Fund's total assets reached 220.7 million, up from 111.6 million at the end of 2020 , and net assets increased to 115.5 million from 83.9 million at the end of 2020 . The net asset value per fund unit as of June 30, 2021 increased by 9.2% to 115.52 CHF, taking into account the distribution of 6.00 CHF.
Helvetica plans to present the detailed, audited semi-annual reports of the three funds at the end of August. (ah)
