Akara Swiss Diversity Property Fund PK

annual financial statements 2023 and capital increase in May 2024

Swiss Prime Sites Solutions / Key word(s): Annual Results/Capital Increase Akara Swiss Diversity Property Fund PK: annual financial statements 2023 and capital increase in May 2024 16.04.2024 / 09:00 CET/CEST Press Release

The Akara Swiss Diversity Property Fund PK (Akara Diversity PK) demonstrated resilience in a challenging market environment and closed financial year 2023 with a return on investment of 2.63%. This figure comprises a stable cash flow yield of 2.81% and negative capital growth of –0.18%. The ROI since the fund’s launch on 25 October 2016 is therefore 5.63 percentage points above the KGAST Immo-Index Mixed. This is attributable, inter alia, to the strong average location rating of the properties. Realised capital gains increased considerably to CHF 7.8 million (2022: CHF –0.6 million).

Attractive cash yield
The tax-exempt cash yield stands at an attractive 3.03% and is within the same target range as previous years. CHF 34.50 per unit will be distributed to investors on 26 April 2024. Equity of CHF 127 million was raised in the reporting period (01.01.2023–31.12.2023) through an issue and a contribution in kind. This was used to acquire further properties and to finance our development projects.

Broadly diversified portfolio and extension of WAULT
Total fund assets grew to CHF 2.7 billion in financial year 2023. Rental income increased by 13% to CHF 80.7 million. The vacancy rate fell for the third year in succession and stood at a record low of 2.33% at year-end. New contracts in the financial year extended the WAULT from 4 to 4.11 years. The portfolio comprises 148 existing properties and 11 construction projects. Development projects make up about 12%. The residential proportion of the portfolio stands at 56%. The properties are in excellent locations in Switzerland, as confirmed by the average location rating of 4.2 (scale 1-5, previous year 4.1). In financial year 2023, 12 additional properties with a total value of approximately CHF 212 million were purchased.