Varia US Properties AG today successfully issued a CHF 50 million fixed-rate bond with a coupon of 3.00% and a tenor of four years in the market. This has been the first bond issue in the history of the Company. The proceeds are to be used for the acquisition of
Increase of effective gross income from USD 22.9 million in Q4 2018 to USD 23.1 million (+1.1%) Rental income up from USD 20.7 million in Q4 2018 to USD 20.9 million (+0.8%) Total operating expenses amounted to USD 12.3 million (+1.4%) compared to USD 12.1 million in Q4 2018 Net
Distribution of CHF 2.50 per share for business year 2018 confirmed Approval of quarterly distribution of CHF 0.50 per share beginning in Q2 2019 with a true-up at the 2020 Annual General Meeting Manuel Leuthold re-elected as Chairman of the Board of Directors All Board members elected who stood for
Total income of USD 100.8 million (+14.3%) Effective gross income of USD 86.0 million (+30.7%) Portfolio value adjustment of USD 14.7 million EBITDA of USD 38.9 million (+46.6%) EBITDA margin of 43.6% (2017: 40.3%) Property portfolio value of USD 767.5 million as of 31 December 2018 (+24.2%) NAV growth to
Varia US Properties (VARN) closed on 14 December 2018 the sale of Pine Ridge, a 116 unit property located in Bremerton, in the Seattle Metropolitan Area for an amount of USD 21.5 million. This property was bought in March 2017 for a purchase price of USD 16.4 million and valued
The main focus of Varia US Properties in the third quarter 2018 was on the continuous implementation of the value-ad strategy as well as on the optimization of the portfolio. Varia acquired two properties in the States Ohio and Tennessee for USD 40.5 million and with a total of 419
Varia US Properties closed the first half-year of 2018 with favourable results. Varia focused on further promising investments and on the continued implementation of its growth and value- add strategy. Overall, the half-year results are within its expectations in a growing portfolio and reflect the benefits of the positive developments
Watch the video of Varia’s AMG 2018 held in Zürich on May 24th.
Approval of a new authorized capital of 900,000 registered shares of a par value of CHF 1.00 each Manuel Leuthold re-elected as Chairman of the Board of Directors All Board members elected who stood for re-election and all nominated members of the compensation committee approved Consultative approval of 2017 compensation
Swift investment of new capital raised with four acquisitions for USD 81.5 million – two more properties under contract Non-controlling interests transfer of the former Peak Capital Partners portfolio near completion Increase of Effective Gross Income from USD 12.7 million to USD 18.7 million Net Operating Income up from USD
On Thursday, May 24, 2018, Varia US Properties will held its Annual General Meeting (AGM) after its first full year as a listed company on SIX Swiss Exchange. The full invitation is available on the Annual General Meeting’s section of the Company’s Website The AGM is the right time to
Total income of USD 88.2 million, plus 36.5% Effective gross income of USD 65.8 million (+ 68.0%) Significant gain from portfolio value adjustment of USD 22.4 million (including USD 6.9 million of capex invested) Net operating profit before debt, taxes and exceptional of USD 48.9 million, up 60% Earnings per
Varia US Properties today announces the results of the capital increase by way of a rights offering as approved by the shareholders at the extraordinary general meeting of 8 December 2017. By the end of the rights exercise period on 11 January 2018, 12:00 noon CET, 89.1% of the rights
Varia US Properties (the “Company”) announces today that it reached an agreement with Peak Capital Partners to buy out the interests of Peak Capital Partners and its affiliates in the Company’s portfolio, which are accounted for as non-controlling interests in its financial statements. According to the agreement, the non-controlling interest
At today’s extraordinary general meeting in Zurich, the shareholders of Varia US Properties approved all motions proposed by the Board of Directors. A total of 4,312,093 shares, or 59.89% of shares with voting rights, were present or represented. The ordinary capital increase to be used for the acquisition of promising
Varia US Properties AG today invited its shareholders to an extraordinary general meeting. The Board of Directors is requesting an ordinary capital increase for the exploitation of promising investment opportunities and the further enhancement of the portfolio in the USA. The Board also proposes to resolve a cash dividend in
Varia US Properties AG, has completed a capital increase to reinforce its institutional investor base and to further enhance its portfolio in the US by acquiring attractive properties. 542,105 new registered shares of Varia will be issued at an issue price of CHF 38 from the authorized capital, each with
Varia US Properties AG announced today the intention to increase its share capital with two consecutive transactions in order to further enhance its portfolio and to benefit from the strong investors’ demand for appeling real estate investments. Read Full Media Release In a first step, the Company intends to offer
Total income up 31.2% to USD 43.3 million – rental income up 50.4% to USD 26.2 million Significant 50% rise in effective gross income to USD 28.4 million Net operating income of USD 13.5 million Value of property portfolio tops USD 500 million and consists of 47 properties Gross potential
Varia has progressed as planned in terms of equity deployment of the capital increase. It has identified interesting acquisition opportunities in the Southern and Western regions of the US which have been the most heavily sought after due to highly favorable demographics and growth projections. Varia acquired 13 properties amounting
Net cash flow Q1 yield up to at 11.2% Distribution yield at property level up to 9.5% Effective gross income (EGI) increased by 22% to USD 12.7 million in Q1 2017 Decrease of total expenses as percentage of EGI from 50% (Q4’16) to 44.6% (Q1’17) Net operating income improved by
Varia US Properties publishes strong 2016 performances, a promising basis for the year to come. The main figures for 2016: Total income of USD 64.6 million Effective gross income of USD 39.1 million and operating result before debt, taxes and exceptional of USD 17.4 million Property portfolio value of USD
Varia US Properties AG announced today that it has already closed its first three transactions after the capital increase of December 2016 in a continuous effort to deploy the new equity of CHF 127.7 million. Varia expects the full deployment of the net IPO proceeds by the end of June,
Varia US Properties AG announced today that Bank Vontobel AG, acting on behalf of the Company, has fully exercised the over-allotment option of its initial public offering (“IPO”) of 464,562 new shares at the offer price of CHF 35 per share. In total, 3,561,636 new shares were sold in the
Strong demand for Varia shares from Swiss and international institutional as well as domestic private investors oversubscribing offered shares. Overall, a total of 3,097,074 offered shares have been issued at the offer price of CHF 35. Assuming the over-allotment option of up to 464,562 shares will be exercised in full,
1,649,078 from the up to 3,097,074 new shares that shall be issued in an ordinary capital increase of the Company have been underwritten at the fixed price of CHF 35 by eligible existing shareholders exercising their pre-emptive rights to subscribe for new shares. This number equals to a take-up ratio
The IPO is an offering of up to 3,561,636 newly issued registered shares consisting of up to 3,097,074 new shares that are issued in an ordinary capital increase of the Company and, in case of the over-allotment option, of up to 464,562 over-allotment shares, issued by the Company based on
Discover the video of the roadshow we organized to introduce Varia US properties to investors in Switzerland.
Varia’s portfolio was valued at USD 301 million by Colliers International as of 30 June 2016 and consisted of 39 properties with approximately 5,000 residential units located in 14 US states. The Company generated total income (excluding income from fair value adjustments) of USD 18.9 million and an operating profit
On April 1st, 2016, Varia US Properties AG acquired through its subsidiary Varia US Tulsa LLC 95% of a 305-unit Senior LIHTC property in Tulsa, in the state of Oklahoma. The purchase cost is USD 17.438 million.
On February 23rd, Varia US Properties AG acquired 100% of the shares of the Ariston Opportunity Fund LLC, a Bahamas fund holding 23 properties in the US. Those properties were initially acquired thanks to the sponsorship of Peak Capital Partners for the former owners of the Fund. Peak accepted to
Varia US Properties AG successfully achieved its second capital increase on February 3rd, 2016. This additional equity shall allow the company to acquire all the shares of the Ariston Fund, a Bahamas fund that owes 26 residential assets in the United States.
On December 13, 2015 and according to previous announcement, Varia US Properties AG has secured the acquisition of a portfolio of 13 properties in Florida for a total acquisition cost of USD 75 million. The portfolio is spread between the Orlando region, Jacksonville, Daytona and Pensacola. It comprises 1’686 units
On the General Assembly of December 4, 2015, the shareholders of Varia US Properties AG elected as new board members: – Dany Roizman, external asset manager – Alexander Leviant, asset manager in the US – Thomas Prajer, CEO of Swiss Finance of Property, Zürich
Varia US Properties AG successfully achieved its first capital increase on November 12, 2015. This additional equity shall allow the Company to acquire a portfolio of assets in Florida.
Varia US Properties AG was formed on September 28, 2015. Its head office is based in Zug, Switzerland. The corporate goal is to invest on the US real estate market. The founder and initial board members are: – Jaume Sabater, CEO of Stoneweg SA, in Geneva – Taner Alicehic, CEO