Portfolio Overview

As of 30 June 2016, Varia US Properties’s portfolio comprised 39 properties spread within 14 States of the United States of America. The portfolio is 100% residential and it includes approximately 5,000 units or flats. The total appraised value of this portfolio amounts to USD 301 million.

Varia US Properties average debt costs amounted to 4.3% as of 30 June 2016. The loan portfolio is mixed between short term and long term loans, depending on the strategy of each building. Depending on the specific strategy for the asset, Varia US Properties will decide whether to use a fixed term rate or to go short term with variable interest rates.

Property Details as of 30 June 2016

Units 4’967 4’967 total units across 39 properties
Market Units 2’726 55% of units are market rent units
LIHTC Units 2’241 55% of units are market rent units
Leasable Square Feet 3’873’303 780 average sq ft/unit

The portfolio’s average unit size is approximately 780 square feet per unit as of 30 June 2016.

Varia Portfolio – Average Square Feet/Unit (based on leasable square footage per unit)

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As of 30 June 2016, the portfolio’s average market value per unit was approximately USD 60,000 (market value is determined by the June 2016 appraised value of properties).

Varia Portfolio – Average Value/Unit (based on 2016 market value per unit)

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The Portfolio’s assets are located in 14 States including: Florida, Colorado, Kansas, Oklahoma, Nebraska, Idaho, Iowa, Utah, Texas, Mississippi, Georgia, North Carolina, New Mexico and Indiana.