Akara announces contribution in kind and next issue
Ascaro Vorsorgestiftung is contributing five residential buildings to Akara Swiss Diversity. The fund also announces a new capital increase and sales.
According to a fund update from the Akara Swiss Diversity Property Fund PK, five residential properties in western Switzerland were acquired by Ascaro Vorsorgestiftung at the beginning of December by means of a contribution in kind. "Through the contribution in kind, we have gained an attractive new investor in Ascaro Vorsorgestiftung and can simultaneously reduce our debt ratio to below 26%," writes the fund management company. In addition, regional diversification in the cantons of Vaud and Neuchâtel will be improved.
Project in Uitikon-Waldegg repositioned
Akara also has news about its project in Uitikon-Waldegg (ZH), where the "Leuen Waldegg" project with a total of 207 apartments is being realized in three construction phases. The new SNBS Gold and SNBS Platinum-labeled development with 17 three- to four-storey apartment buildings is located at the foot of the Uetliberg recreational area. The second stage, "Leandro", has been repositioned as a condominium. Some of the 47 condominiums will be occupied in November 2024, the rest in the first half of 2025. Sales will start at the end of February 2024. "The repositioning has led to a significant appreciation of the property," writes Akara. The profit will be realized on the sale of the condominiums in the 2024 and 2025 financial years.
Strategic sales in the fourth quarter
In the 4th quarter, Akara also sold twelve properties in the canton of Zurich for CHF 177.3 million. The smaller properties were sold with a realized capital gain of over CHF 7 million. These were eleven residential properties in Zurich, Winterthur, Meilen and Spreitenbach and one retail property in the city of Zurich.
Capital increase in the second quarter of 2024
In addition, the fund management of Akara Diversity PK has announced that the next issue is planned for the second quarter. The fresh funds are to be used primarily to expand the portfolio, and purchases have already been secured. In addition, ongoing projects will be financed and, where possible, the debt ratio will be further reduced. (aw)
