Akara: Strong increase in profits in the 1st half of the year
In the first half of the year, the fund significantly increased rental income thanks to acquisitions and generated profits on the sales side.
The Akara Swiss Diversity Property Fund PK increased rental income from CHF 39.0 million to CHF 45.5 million in the first half of the year. With a slight increase in expenses, net income rose from CHF 23.9 million to CHF 28.8 million. Realized capital gains of around CHF 10 million led to an increase in net income from CHF 23.9 million to CHF 39.8 million. As the valuation result of CHF -8.5 million was slightly more favorable than in the same period of the previous year (CHF -13.4 million), total income also increased significantly from CHF 14.7 million to around CHF 41 million.
Five small properties sold for less than 10 million
The return on investment of 2.12% is made up of a cash flow return of 1.49% and a stable return on changes in value of 0.63%. The vacancy rate in the CHF 2.8 billion portfolio fell by 170 basis points to 1.85%. The fund acquired four properties with a total value of CHF 118 million and sold six properties with a total volume of CHF 86 million. A further sale took place after the reporting date. In return, seven properties were sold for a total of CHF 85.6 million and an increased residential property in Meyrin (GE) was placed on the market.
Completion in Uitikon
The fund also reports that the development on the second construction site "Leo" of the "Leuen Waldegg" project in Uitikon-Waldegg (ZH) with 99 apartments will be occupied by the beginning of October. The apartments have been let at rents more than 20% higher than originally planned. The two properties at Oberwiesenstrasse 63 and Dörflistrasse 115 were sold fully let in June 2024.
These are the acquired properties
- Mendrisio (TI), Via San Martino 20 (commercial, CHF 18.02 million)
- Cointrin (GE), Avenue Louis Casaï 58 (commercial, CHF 64 million)
- Muri (AG), Luzernerstrasse 105 (commercial, CHF 26.4 million)
- Montagny-près-Yverdon (VD), En Chamard 35 (CHF 10.32 million)
The following properties were sold:
- Meyrin (GE), Rue de la Prulay 39, (residential, 25.5 m)
- Meyrin (GE), Rue de la Prulay 45 (residential, 25.5 m)
- Zurich, Schaffhauserstrasse 440, (residential, CHF 7.0 million)
- Zurich, Dörflistrasse 115 (residential, 7.15
- Zurich, Oberwiesenstrasse 63 Residential, 10.0 million)
- Spiez (BE), Simmentalstrasse 17, (residential, 4.86 million)
- Zug (ZG), Baarerstrasse 107 (residential, 5.625 million) (aw)
