Portfolio

Fiege

Logistics and Office Properties – Münchenstein, Basel-Country

The investment properties consist of two commercial properties set up in 1993 (Property 1, Genuastrasse 11) and 1998 (Property 2, Helsinkistrasse 12). They are connected by shuttle and form one economic unit. The properties are only a ten minutes´ drive from the city center of Basel, located within the "Dreispitz" area which spans an area of around 500,000 square meters, making it the largest self-contained commercial and services park in Basel. Due to its innovative development planning the "Dreispitz" area shows a great future potential.

The properties are fully leased to Fiege Logistik (Schweiz) AG, a subsidiary of the Fiege Group. The reputable tenant is number one in the European and number five in the global contract logistics market. A high income security is very likely due to the long-term lease to 2024 plus two extension options of 5 years each.

The total financing amount for the investment company is CHF 26.9 million. ACRON AG has placed shares in the amount of CHF 12.1 million with three investors and remains the founding shareholder of the investment company with CHF 100,000. The forecast distribution will range between 7.00 percent annually and 8.50 percent annually starting in 2011 until 2023. By at least 2016, the company will make distributions exclusively by way of tax-free par value reductions. Subsequently, there will be a combination of par value reductions and payment of a dividend. Due to the high redemption rate of 2 % p.a. for the loan amount, the already-conservative financing ratio of approx. 62 % based on the cost value in the year 2009 will amount to approx. 43 % after 15 years (2024).

Property in Detail

Details

Legal form

Swiss stock corporation
CHE-115.284.002

Address / registered office of the company

ACRON HELVETIA V Immobilien AG
c/o ACRON AG
Genuastrasse 11
4142 Münchenstein
Basel-Country
Switzerland

Year issued

2010

Year closed

2011

Number of shareholders at the time of issuance

4

Number of shareholders at July 1, 2012

4

The Property

Type of use

Logistics and office properties

Adress

Helsinkistrasse 12 / Genuastrasse 11
4142 Münchenstein
Basel-Country
Switzerland

Year constructed

1993 / 1998

Site area

12,294 m² (132,283 sq. ft.)

Net leasable area

16,700 m² / 179,692 sq. ft.
(of which 14,430 m² / 155,266 sq. ft. storage)

Occupancy rate in % of total area

100

Parking spaces

61 (53 of which are located in a parking garage)

The Tenant

Tenant

Fiege Logistik (Schweiz) AG

Lease term

riple-net agreement with Fiege Logistik (Schweiz) AG; term until at least November 2024, plus two extension options of 5 years each
Indexation according to the Swiss national index of consumer prices, price increases up to 2 % in full, graduated when above

Key Figures (in CHF)

Investment volume

26,900,000

Share capital

12,200,000

Borrowed funds

14,700,000