Portfolio Overview

At the end of the first semester 2017, the portfolio comprised 47 assets spread in 17 different states in the United States of America with a total value (appraised value by Colliers as of June 30, 2017) of USD 508.12 million.
The portfolio is 100% residential and comprises 7’289 units among which 2’292 are so-called Low-Income Housing Tax Credit (LIHTC) units and 4’997 are market units.

Compared to December 2016, the portfolio (i.e. without additions) grew in value by 3.9% or USD 13.41 million during this period, which is the result of the value-add strategy and of the rental increase.

Property Details as of 30 June 2017

Units 7’289 7’289 total units across 47 properties
Market Units 4’997 69% of units are market rent units
LIHTC Units 2’292 31% of units are LIHTC units
Leasable Square Feet 5’718’305 785 average sq ft/unit
Leasable Square Meter 514’647 71 average sqm/unit
Total Market Value USD 508’120’000 USD 69’710 per unit
Average Monthly Rent USD 756 per unit
Occupancy Rate 95.3 %
Loan to Value 61.15 %

Geographical Split of Varia’s Property Portfolio

Geographical Split of Varia's Property Portfolio

At the end of the first semester of 2017, the value of Varia’s portfolio was USD 508.12 million.
The Portfolio’s assets are located in 17 States including: Florida, Colorado, Kansas, Oklahoma, Nebraska, Idaho, Utah, Texas, Mississippi, Georgia, North Carolina, South Carolina, New Mexico, Indiana, Washington, Missouri and Arizona.