Akara Diversity PK continues to grow and carries out capital increase
Last year, the Akara Diversity PK fund significantly expanded its real estate portfolio. Meanwhile, the next capital increase has begun, which is expected to raise over CHF 160 million.
According to its annual financial statements, Akara Diversity PK made additional purchases for CHF 507 million in 2021. A total of 23 investment properties and one project development in Zurich North were added to the portfolio. The market value of the properties increased from CHF 1.6 billion to CHF 2.2 billion. At year-end, the fund owned 142 properties, of which 132 were investment properties and ten were development projects. The net rent from residential use is 50.3% and will increase to 59.6% after completion of the buildings at the end of 2027. The rent default rate decreased from 6.33% to 5.82%. The fund's investment yield remained largely stable at 6.32% in 2021 (2020: 6.19%), while the distribution yield increased slightly from 3.31 to 3.81%.
The fund has secured investments for project developments, construction projects, revitalizations and conversions of 312 million by the end of 2027, which will increase the market value to CHF 2.6 billion. Plans include 720 new apartments and 5,990 sqm of commercial space. The three largest projects are the residential development at the corner of Winterthurerstrasse/Ueberlandstrasse in Zurich North with a total project volume of CHF 176 million, the Leuen Waldegg residential development in Uitikon (ZH) with a project volume of CHF 155 million and the Akara Tower at Brown Boveri Platz in Baden (AG) with a project volume of CHF 115 million.
Next capital increase already underway
The fund is looking for new funds to finance its upcoming real estate projects and new acquisitions. Akara management has now announced its ninth capital increase. The subscription period runs from April 25 to May 27, with payment scheduled for June 24. The issue volume is expected to amount to CHF 164.66 million. Subscriptions will be serviced on a "first come, first served" basis, whereby letters of intent received in advance will be taken into account and subscription rights will have priority. (aw)
