HSC Fund acquires state-of-the-art and fully let property in Thun
The HSC Fund signed a purchase contract with Meyer Burger (Switzerland) Ltd for the state-of-the-art and mixed-use commercial property of Meyer Burger in Thun. The property is located in a very good, active economic location, at Schorenstrasse in Thun. The commercial property has around 22,900 square meters rental space and generates annual rental income of around CHF 3.6 million.
The property has long-term leases and is fully let. Meyer Burger Group companies represent around 17% of rental income, the remaining 83% are achieved with different tenants which are independent from Meyer Burger.
High-class building with electricity from renewable sources
The property was constructed in 2011 according to pioneering energy and environmental standards. All electricity used is from renewable sources: 90% comes from Swiss hydro, around 8% from local hydro in Thun and around 2% from solar, wind and biomass. The site also takes advantage of the energy created by its own photovoltaic equipment and the photovoltaic building facade.The property was constructed in 2011 according to pioneering energy and environmental standards. All electricity used is from renewable sources: 90% comes from Swiss hydro, around 8% from local hydro in Thun and around 2% from solar, wind and biomass. The site also takes advantage of the energy created by its own photovoltaic equipment and the photovoltaic building facade.
Purchase contract notarized, transfer of ownership expected shortly
The purchase contract was notarized yesterday, 22 October 2019. The final purchase price amounts to CHF 42.5 million and the agreement includes long-term rental income guarantees as well as a graduated payment of the purchase price. The transaction is subject to a pre-emptive right by the city of Thun as well as an approval by the city of Thun. Due to intense discussions with the selling party and with public authorities of the city of Thun, the Fund Manager Helvetica Property Investors expects the transaction to be completed and the transfer of ownership to take place shortly.
Hans R. Holdener, CEO and Managing Partner comments: «With the acquisition of this building, we are able to sustainably expand our real estate portfolio which is focused on attractive properties in good locations, and to continue our growth strategy. For the HSC Fund, the property has substantial valuation potential and is very attractive due to the comprehensive and extensive rental income guarantees as well as due to the graduated payment of the purchase price. We expect further acquisitions during the fourth quarter and a market value of our portfolio of around CHF 700 million by the end of 2019..»
For more information
| Hans R. Holdener CEO and Managing Partner + 41 43 544 70 80 hrh@HelveticaProperty.com | Frederic Königsegg CIO, Head Investment Management +41 43 544 70 80 fk@HelveticaProperty.com |
About Helvetica Property Investors AG
Helvetica Property Investors is an independent partner-owned and managed real estate fund management company regulated by the Swiss Financial Market Supervisory Authority FINMA. Helvetica Property Investors offers the full spectrum of real estate investments, including investment strategies, investment property selection, deal structuring, acquisitions, financing, portfolio management and sales. The firm offers both direct and indirect real estate investments in Switzerland on behalf of its clients. Helvetica Property Investors acts as fund and asset manager for the Helvetica Swiss Commercial real estate fund.
About Helvetica Swiss Commercial Fund
The Helvetica Swiss Commercial Fund (HSC Fund) is an open contractual real estate investment fund under Swiss law open to all investors. The fund is suited for long-term value investors interested in a stable and consistent cash-flow. The fund invests in commercial properties with value appreciation potential across the most dynamic economic regions in Switzerland. The focus is on potentially undervalued properties with an attractive cash-flow yield. The fund manager pursues an active hands-on management approach to unlock and realize hidden potential in the properties by means of revitalization, renovations, vacancy reductions and lease extensions. The long-term goal is to build a broadly diversified portfolio by region, type of use, object size and tenant mix. Valor 33 550 793; ISIN CH0335507932