Sometimes, things move faster than expected. Just a week ago, Marc Giraudon, the new CEO of Helvetica Property Investors, shared with finews.ch that he was preparing the Helvetica Swiss Living Fund (HSL Fund) for an imminent IPO. On Tuesday, the fund’s management announced that the listing on the SIX Swiss Exchange would occur this year, with the first trading day set for December 10.

The public offering is expected to deliver increased liquidity, better marketability, and an expanded pool of investors.

Focus on Residential Properties
As of the end of October, the fund’s portfolio comprised 40 purely residential properties located in high-growth suburban regions of German-speaking and Western Switzerland. According to the announcement, «the strategic focus is on providing residential offerings for multi-person and family households in the low- to mid-range rental segment.»

The portfolio’s market value is estimated at CHF 525 million, with an average gross yield of 4.1 percent and a vacancy rate of approximately 4 percent The debt financing ratio stands at 27 percent while the Net Asset Value (NAV) as of the first half of 2024 is CHF 102.70 per fund unit.

Streamlined Preparation Process
In recent months, targeted property sales amounting to over CHF 180 million were executed. The proceeds helped reduce the fund’s leverage ratio, ensuring it stayed below the regulatory limit of 33.3 percent.

Second Helvetica Fund to Go Public
This marks the second Helvetica fund to be listed on the stock exchange. The first, the Helvetica Swiss Commercial Fund, debuted in November 2019 and currently has a total volume of CHF 710 million.