from Swiss Prime Sites Solutions (isin : CH1139099068)
Akara Swiss Diversity Property Fund PK: increase in return on investment to 2.12% in first half of 2024 (HY 2023: 0.82%)
Swiss Prime Site Solutions / Key word(s): Half Year Results Press Release In the first half of the year to 30 June 2024, the Akara Swiss Diversity Property Fund PK («Akara Diversity PK») generated a return on investment of 2.12%. This figure comprises a solid cash flow yield of 1.49% and stable capital growth of 0.63%. Since its launch in 2016, the fund has cumulatively outperformed the KGAST Immo-Index Mixed by 7.88%. The portfolio continues to grow and comprised 158 properties with a total value of approximately CHF 2.8 billion at the mid-point of 2024. The Akara Diversity PK remains an attractive investment that enjoys a high level of confidence among investors. The 12th capital increase in May/June 2024 gave the fund CHF 45 million in new equity. Another investment opportunity will be offered in the second half of 2024; details will follow in due course. Further development of the portfolio under the «buy and manage» approach Further efforts will be made to unlock additional potential in existing properties through active management. An external analysis has shown that market rents for existing residential properties in the portfolio after investments lie between the 60th and 70th percentiles. The current target rents are in the 40th to 50th percentiles. Strategic purchases and sales increase WAULT and gross and net yields In the first half of 2024, the Akara Diversity PK capitalised on the high market demand for smaller residential properties in Zurich, Zug and Bern, and sold five properties for less than CHF 10 million. In addition, the expanded residential property in Meyrin (GE) was successfully placed on the market. Overall, these transactions made a positive contribution to increasing the average WAULT and gross and net yields. Active further development of sustainable construction projects Two new-build projects in Zurich, at Oberwiesenstrasse 63 and Moosstrasse 39, were completed and fully occupied in spring 2024. The total renovation of Dörflistrasse 115 in Zurich-Oerlikon has also been completed. The properties at Oberwiesenstrasse 63 and Dörflistrasse 115 were sold fully let in June 2024. Detailed information and presentation Akara Diversity PK fund profile Zug, 4 September 2024
If you have any questions, please contact: Swiss Prime Site Solutions AG THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED TO UNITED STATES PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES. IN ADDITION, THE SECURITIES OF SWISS PRIME SITE AG HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT FROM REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS. End of Media Release |
Language: | English |
Company: | Swiss Prime Site Solutions |
Prime Tower, Hardstrasse 201 | |
8005 Zürich | |
Switzerland | |
ISIN: | CH1139099068 |
Valor: | 11390990 |
EQS News ID: | 1980843 |
End of News | EQS News Service |
1980843 04.09.2024 CET/CEST