A Serendipitous Journey into Real Estate
In 1997, I unexpectedly ventured into real estate. What began as a straightforward yet ambitious idea—offering furnished and serviced apartments to Zurich's expats—morphed into more than just a business. It was an enlightening journey that profoundly shaped my understanding of the industry. From scouting properties, negotiating deals, and acquiring assets to engaging with tenants, overseeing renovations, managing finances, and even attending to details like painting and minor repairs, every step enriched my knowledge of real estate. This hands-on experience reinforced my faith in Helvetica's integrated value chain approach, distinguishing us in Switzerland's competitive market. This hands-on ethos is reminiscent of my childhood lessons. My father, a chef back then, would immerse me in the vibrant food markets of Oslo, instilling in me the importance of direct engagement to truly appreciate quality.

Growth and the Missing Link
Over nearly two decades, Helvetica has charted a path of steady growth, offering institutional investors and private clients top-tier real estate funds and tailored investment solutions, always ensuring commendable risk-adjusted returns. While we've always been dedicated to managing the full lifecycle of real estate investments in-house, one crucial component of the value chain remained elusive: property management. Now, we're taking a significant step forward by fully integrating and insourcing this vital function.

From premium service to commodity
In my perspective, the property management sector, or "Bewirtschaftung" as it's termed in German, has witnessed a concerning evolution in Switzerland in my view. What was once a domain marked by premium service and fair compensation has gradually been commoditized, leading to a diminished fee structure. Sadly, property managers, despite their pivotal role in the real estate value chain, have been increasingly sidelined, often relegated to the status of "second-tier" stakeholders. This has led to a series of repercussions: slim profit margins, high staff turnover, heavy workload leading to burnout, loss of critical expertise, limited investments in IT and digitization, and a discouraging career outlook for those aspiring to grow in this sector.

Valuable Lessons from Everyday Experiences
Back in 1982, during my cooking apprenticeship, I was imparted a lesson that has stayed with me ever since. My chef, a man of wisdom, held the cleaning staff in the same high regard as he did the rest of the culinary team. His reasoning was both simple and profound. He explained, "If a soup is served cold, a guest might send it back, and we can quickly remedy the situation by serving a hot one. But if a plate is dirty, it casts doubt on the entire operation. The guest begins to question everything, and in the worst-case scenario, authorities could even shut us down." This lesson underscored the importance of every role in a system, no matter how seemingly small.

A Paradigm Shift in Property Management
It's time for a paradigm shift. At Helvetica, we're committed to reversing this trend, recognizing the indispensable value of property managers, and restoring the prestige and promise this profession rightfully deserves by adding the missing link to our value chain. This move signifies more than just growth; it's a strategic elevation that aims to make us better and giving us a competitive edge. By incorporating property management, we're not only rounding out our value chain but also reinforcing its most pivotal link. This closer bond with our tenants and properties promises operational efficiencies, a deeper insight into our assets and tenants, and the dual advantage of unveiling potential while swiftly identifying risks.

Looking Ahead with Optimism
Our Duforspitze strategic plan, with its focus on also enhancing core competencies, is coming to life through this new initiative. Michel Hafner's leadership, combined with the dedication of the team at the newly-formed Helvetica Property Managers, speaks volumes about the potential of this venture. The overwhelming interest we've received from professionals wanting to join our new unit is a testament to our industry reputation and the trust we've cultivated. It makes me proud. As we approach the January 2024 launch, I want to express my deep appreciation to Michel Hafner, his team, and our entire organization. And, of course, our investors and partners—your unwavering trust and support have been foundational to our success. Michel, know that you have the full backing of the entire organization.

Pursuing Excellence in Every Endeavor
Institutional investors value stability, foresight, and innovation. At Helvetica, these aren't just values; they're commitments. Our unique approach has allowed us to distinguish ourselves in a crowded marketplace. As we embark on this new venture, our goal is not just to continue our legacy but to elevate it. To our respected investors and partners: We stand on the cusp of a new chapter, one marked by audacity, seamless integration, and forward-thinking. We invite you to join us on this transformative journey. Together, we can redefine the contours of real estate investment. Our "BeeWi" T-shirt symbolizes more than just Property Management or "Bewirtschaftung" in German. It represents our team's ethos: "Be We". It's a testament to our ambition – to champion and uplift the role of property management, recognizing its pivotal place in the real estate ecosystem.